JANUARY 30, 2024 — TUESDAY AM
The market finished with a strong final hour of the day Monday, but anticipating a modest fade after trend move early in the session back toward yMID. Expect responsive bulls to defend the morning pullback to keep prices relatively in check ahead of Wednesday’s FOMC statement and rate decision. Expecting high-range action Wed thru Friday this week. Watch for signs of rejection at 76 and of yLO in Crude Oil for a bullish fade higher. As of right now, no signs of rejection are occurring. Gold remains lost in the middle of its range, but expect bears to continue to apply pressure between around 2070.
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Frank Ochoa
Author, Secrets of a Pivot Boss
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