NOVEMBER 07, 2024 — THURSDAY AM
The ES, NQ, and YM are trading in a holding pattern ahead of this afternoon’s Fed statement and rate decision, as the markets hold on to Wednesday’s massive gains. While modest pullbacks many occur, do not sell into this strength, as bulls will look to defend into pullbacks. Crude Oil is likely to remain within the boundaries of Wednesday’s range. Gold bears will be looking to defend mMID at 2710 for a continuation lower toward the naked FOMC key level below. BTC hit a new all-time high, and remains highly bullish, with a shot to see 80,000 and 92,000 ahead. ETH finally got a break through the important 2800 level, which could open up a huge round of strength toward 3400 and 4000 ahead.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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