FEBRUARY 06, 2025 — THURSDAY AM
The markets continue to demonstrate steady strength after Monday’s strong G squat reversal, which suggests further upside into Friday’s close. Bulls will be looking to defend into morning weakness in the ES, NQ, and YM for a shot at afternoon highs, with the YM having a chance to reach new all-time highs. Crude Oil failed to hold the 72 level on a daily closing basis, which may open up the 66-67 support zone below. Bulls will be eager to defend this zone for a reversal back to 72 and 78 above. Gold remains bullish and reached the 2900 level. All pullbacks remain a buying opportunity, as price marches higher toward 3000. BTC and ETH remain stuck for now, with ETH needing back above 3000 to trigger another bullish wave.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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