DECEMBER 13, 2023 — WEDNESDAY AM
The ES, NQ, and YM are trading within extremely narrow ranges ahead of the RTH open, as the markets await today’s FOMC statement and rate decision. Expect range-bound action for much of the day, and for late-day volatility to enter the market. With prices at the extremes of last year’s ranges, we could soon begin to see signs of potential rejection. Crude Oil lower low potential developing, and Gold remains on a path to 1950.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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