DECEMBER 05, 2023 — TUESDAY AM
The ES and NQ continue to develop within multi-week narrow ranges, which may further develop into expanding ranges. Watch for more weakness into wLO ahead for the ES, but bulls may look for rejection here. The YM and Crude Oil have developed narrow 2-day ranges, with Crude likely looking to break down into 70 ahead. Gold has developed a major Day 1 rejection at 2100 with a high-range day of over 500% of ADR. This could lead to a reversal back to yearly VWAP at 1950 by year’s end.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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