The ES and NQ each pushed higher in the previous session, but faltered late in the day, which opens the door to potential weakness ahead. With opex on deck, we could see a bit of volatility throughout the session, so look to avoid the chop. Bitcoin is building out below the 6700 key level, which is the level to watch for a short squeeze soon. Here are the levels we’re watching in the PivotBoss Trading Room.
The ES, NQ, and YM are showing signs of strength after the recent pullbacks. A break above 2845 in the ES could open up much more upside. Gold is finally developing a strong rejection day, which means we may have found our bottom in Gold. If so, we could see a near term bounce to 1225-1230, and potentially higher. Bitcoin bulls continue to defend 6000 for a shot at 8000. Here are the levels we’re watching in the PivotBoss Trading Room.
The ES and NQ have trended lower throughout the overnight and pre-market session, and are now holding at multi-day support, which will be the next break or bounce level to watch. Bitcoin got another bounce after being below the 6000 level, and could begin to build toward another move to 8000. Here are the levels we’re watching in the PivotBoss Trading Room.
The Crude Oil saw a significant rejection day yesterday, which means we could be trending higher for next 5-7 days. Meanwhile, Gold and Bitcoin are at significant areas of support, which could make them multi-month buying opportunities. Here are the levels we’re watching in the PivotBoss Trading Room.
Aug 10, 2018 — FRIDAY AM: The ES and NQ each broke down from their respective 3-day ranges, but haven’t seen strong follow-through as of yet. Crude Oil remains near the highs of the session, but appears to consolidating near highs. Keep an eye on 67.41 for signs of failure. Here are the levels and candidates we focused on during the morning session of the PivotBoss Trading Room.
