MARCH 05, 2024 — TUESDAY AM
The ES, NQ, and YM have begun the week quietly, as the market awaits Fed Chair Powell’s testimony Wed and Thurs this week. We’ve seen a modest pullback to begin the week, and will be watch wMID for signs of a further weakness ahead. Crude Oil failed to follow through on its breakout attempt late last week, and is now back within the boundaries of its narrow trading range, which could send it back to the 75.50 to 76 zone ahead. Gold exploded to the upside from its narrow range, which we forecasted to have about 60 to 80 points of range in it. It got every bit of that and is now approaching new all-time highs at 2152. This market is on fire, and could see a breakout attempt much ahead higher.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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