JANUARY 19, 2024 — FRIDAY AM
The ES, NQ, and YM have rallied in tremendous fashion over the last two sessions and are now testing new highs at the top of their respective ranges. The YM is lagging behind still, but continues to approach the top-end of its narrow multi-week trading range. While the market is testing new highs, will a full-on breakout occur, or will we see another rotation back down within the range? A strong rejection at these highs could be very telling…until then, the market remains quite strong. Crude Oil is showing early signs of rejection at 74.50 and remains within its narrow compression, and continues to build major energy as it awaits an expansion opportunity.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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