The ES, NQ, and YM are each showing initial signs of topping out, but much more development needs to be seen first, as these markets continue trending higher in the near term. Gold and metals are bouncing after the recent shake-out leg, but may also need more development before the next big move is seen. Here are the levels we’re watching in the PivotBoss Trading Room.
The ES remains near recent highs, while the NQ continues to trade within its narrow range. Perhaps the action has moved to Metals today, as a skakeout leg could provide buying opportunities in Gold, Silver, Copper, and Platinum. Also, yesterday’s failed breakout in bitcoin could trigger selling pressure ahead, so keep an eye on 6000. Here are the levels we’re watching in the PivotBoss Trading Room.
The ES and NQ are showing early signs of weakness after yesterday’s late-day selling pressure. However, bears need to keep yday’s midpoint offered today for a shot at multi-day weakness. Crude Oil got the breakout yesterday and is now trading over 67s, with a shot to see higher prices. Bitcoin is also seeing strength today after a breakout yesterday. Here are the levels we’re watching in the PivotBoss Trading Room.
The ES has returned to recent highs and may continue to see modest strength. Meanwhile, the NQ has lagged behind, but could play “catch up” soon. Crude Oil and Bitcoin continue to develop within very narrow compressions, which could fuel significant breakout opportunities ahead. Gold is retesting the major 1200 to 1204 support level from below, which bears want to keep offered. Here are the levels we’re watching in the PivotBoss Trading Room.
Crude Oil is developing a very narrow 3-day range, which could spark the next key breakout move. Bitcoin has developed an even more significant price compression, which may fuel the next move above 6700. A breakout could be ahead for both of these markets this week. Here are the levels we’re watching in the PivotBoss Trading Room.
