FEBRUARY 04, 2025 — TUESDAY AM
The markets bounced back from the strong lows left behind after Sunday’s gap down and crash, with the ES, NQ, YM, BTC all developing strong G squat reversals and high range days. We could see the market push higher over the next week of trading from these strong pivot lows, but today could be mostly digestive. As such, we could be looking at a range-bound day, with a slight upward bias. Bulls need to keep prices above yMID on a daily closing basis, otherwise, a major failure occurs. Crude Oil has failed through 72, which opens up 66-67 below. Gold remains on pace to reach 2900 and 3000 above. BTC and ETH put in very strong lows in the previous session, but BTC remains confined to its 20k trading range, while ETH has a lot of ground to make up to get back to 3400.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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