FEBRUARY 07, 2024 — WEDNESDAY AM
The ES, NQ, and YM continue to trade within narrow multi-day ranges, with the ES showing the most strength for a potential breakout, as it continues to reach for 5000. Increased volatility could be seen out of these ranges over the next several days, but watch resistance closely, as any rejection could lead to a pullback within the ranges below. Crude Oil is showing resistance at mMID and 74s, which could lead to a retest of the Monday low at some point. Gold remains stuck in the mud at the center of the large trading range.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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