APRIL 30, 2024 — TUESDAY AM
The ES, NQ, and YM trading within developing 3-day narrow ranges ahead of Wednesday’s FOMC statement and rate decision. Pre-market data is sending the market lower within the range, which could offer a fade opportunity back up within the ranges. Expect mostly range-bound action today, with high-range volatility Wed through Friday. Crude Oil is hugging the flatline for the month on the last trading day of the month, and continues to remain mostly range bound. Eventually, a break through 84.19 could trigger the next rally ahead. Gold is trading within a developing 6-day narrow trading range, which is building energy for the next 100-point breakout move.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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