OCTOBER 25, 2023 — WEDNESDAY AM
The ES, NQ, YM, CL, and GC are each trading within super narrow ranges ahead of the RTH open, and ahead of Fed Chair Powell later this afternoon. The market could remain mostly range-bound throughout the session, with bears looking to defend yHI to keep prices within the Monday range. Crude Oil will likely see compression after recent selling pressure, with a fade back to yHI possible. Bears will look to continue to sell, with 81.50 and 78 as downside targets. Gold could be due for a compression phase.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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