JANUARY 25, 2024 — THURSDAY AM
Pre-market economic data was released this morning, including GDP, Initial Jobless Claims, and Core Durable Goods Orders, which has triggered early strong lows, especially in Gold. The ES and NQ remain quite bullish, and bulls are still looking to defend into pullbacks for further strength ahead. The YM is developing a 4-day narrow range at highs, which could fuel the next 800 to 1000-point move. Gold reached a new weekly low at 2004, but has now developed a strong low at wLO, which could keep prices in check today. Crude Oil is testing the 76 breakout point, and continues to churn higher ahead of a potential upside breakout.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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