Continue to watch the 76.57 key level in Crude Oil. Bears want to defend this level for a shot at running sell stops below 74s, and into expansion targets at 72.68 and 69.30. Bulls want to defend 74 for shot at squeezing bears through 76.57 and into 79.85.
The bears kept the previous month’s high offered in the 2016s, and are now defending 2010s, as well, which is the previous month’s close. Look for further downside price discovery into 1975 to 1980 ahead, unless bulls can reclaim prices above 2010.
The ES and NQ are holding within two-day ranges after Tuesday’s rally. Watch the boundaries of these ranges for potential expansion ahead, but look to fade the extremes of the range until acceptance outside the range is seen. Crude Oil appears headed for another round of selling ahead, especially if the bulls cannot reclaim 81.57.
This is what’s so special about PivotBoss Premium – it’s simple, and accurate. Check out the two pre-market playbooks that I provided our Premium Members for the EMini NQ and EMini ES this morning an hour before the market opened…
Hang out with PivotBoss as he provides his outlook for the futures market for the month of October! We’ll cover the E-Mini S&P 500, E-Mini NASDAQ 100, Crude Oil, and Gold!
