AUGUST 21, 2023 — MONDAY AM
The markets remain within very clear downtrends so far in August, and more downside could still be ahead. As such, will bears be looking to sell into strength to begin the week? Is so, we could see another round of selling pressure that takes us into the next key support levels below – 33800 for the ES, 14k for the NQ, and 33,800 for the YM. Watch 81 in Crude Oil. Failure back below this level could trigger another round of weakness ahead? Gold continues to work its way down to 1900, which could offer a bounce opportunity.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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