Summary
Trend direction, w/o Jan. 23, 2017
- The S&P500 index is expected to go sideways within a defined trading channel this week again, but we can’t rule out a breakout into a strong trend move if the index breaks through that trading channel.
- Oil is expected to go back up higher if the $50 level manages to hold up strongly.
- GOLD should have an ultra-short-term pullback towards the $1175-85 zone first before it bounces up again. The buying pressure mainly results from hedging activity.
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