OCTOBER 19, 2023 — THURSDAY AM
The ES, NQ, and YM are each showing early rejections of prices below yLO, which could lead to an “up-a-day” move back within the developing trading ranges, while bears will look to sell into morning weakness. With Fed Chair Powell due to speak at 11am CT, we could see increased volatility later in the day. Crude Oil is now holding within a 4-day range, and needs above 88s for bulls. Gold may remain an inside day today, as price trades within an intraday key range.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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