The ES, NQ, and YM all backed off their recent highs, and Crude Oil continues to trade within the developing narrow range. A major breakout could be ahead for Crude, but look to avoid false breakouts before true directional conviction is seen. Here are the levels we’re watching in the PivotBoss Trading Room.
The ES reached the FOMC Key Level at 2791.75, which has been our target since July 2. The NQ also reached its FOMC Key Level at 7275, and now both markets are at recent highs, which could introduce resistance soon. Crude Oil continues to compress and may see significant expansion soon. Here are the levels we’re watching in the PivotBoss Trading Room.
July 09, 2018 — MONDAY PM: We take a look at the longer term outlook for various futures contracts, including the ES, CL, GC, RTY, and Bitcoin. We also found several good buy candidates for our watchlist, including $SPOT. Here are the levels and candidates we focused on during the Monthly Outlook for July.
The ES and NQ continue to trade higher toward the 6/13 FOMC key levels, while Crude Oil bears are attempting to keep the previous month’s close price offered for a shot at returning price to 69s. Gold continues to honor 1240 support and may be headed back toward CVPOC soon. Here are the levels we’re watching in the PivotBoss Trading Room.
The ES, NQ, CL, YM, and Bitcoin have each formed multi-day energy building patterns that could fuel the next key move in these markets. Here are the levels we’re watching in the PivotBoss Trading Room.
