AUGUST 23, 2023 — WEDNESDAY AM
Lower highs are developing in the daily charts of the ES, NQ, and YM, which could lead to another round of weakness ahead. However, each market also remains range-bound over the last several days, and could rally within the range if yMID is taken out. Still, YM could be headed lower to 33,800 ahead. Crude Oil broke down through the 79 level, which opens the door to the 75/76 zone below. Can bears keep prices below the day’s mid by the end of the day?
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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