AUGUST 25, 2023 — FRIDAY AM
The ES, NQ, and YM delivered huge bearish outside reversals in the previous session, with each putting in very strong highs. These strong highs suggest more downside ahead over the next several days, as the next lowest support levels are tested. Fed Chair Powell speaks early today, so he could move the needle in a big way early in the session. Will Crude Oil develop another lower high? Gold bulls need above 1950.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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