Forecasts & Analysis | Page 15
European Equities: Earnings, Stats and the Phase 1 Trade Agreement are in Focus
It’s a busy day ahead for the majors. Economic data from the Eurozone and the U.S, corporate earnings, and trade are in focus.
Gold Price Futures (GC) Technical Analysis – Best Value Zone Target $1533.20 to $1514.30
Gold is not bearish, it’s just looking for value. So are the major players. The spike to the upside was driven by light volume and headlines. The real buyers don’t chase gold. They wait for pullbacks into support. That’s why $1533.20 to $1514.30 is the key area to watch for
E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Reversal Top Could Trigger 2-3 Day Correction
Once again, the index straddled a steep uptrending Gann angle at 9085.25. This angle, moving up at a rate of 32 points per day from the 8189.25 bottom, has been guiding the market higher since December 3.
E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – First Downside Target 28553
The daily chart indicates there is plenty of room to the downside, but it’s going to take a combination of fresh shorting and long liquidation to trigger an acceleration to the downside through Tuesday’s intraday low at 28737.
E-mini S&P 500 Index (ES) Futures Technical Analysis – Close Under 3289.75 Forms Reversal Top
A close under 3289.75 will produce a closing price reversal top. If confirmed on Wednesday, this could lead to a 2 to 3 day sell-off.
S&P 500 Price Forecast – Stock Markets Continue To Grind Towards 3300
The S&P 500 has gone back and forth during the trading session on Tuesday as we continue to test the 3300 level. This is an area that is of course psychologically important and is a fresh, new high.
Silver Price Forecast – Silver Markets Pull Back On Tuesday
Silver markets pulled back a bit during the trading session on Tuesday to go looking towards the $17.80 level. Furthermore, the 50 day EMA underneath is starting to rally just a bit, so it’s very likely that technical traders will pay quite a bit of attention to this area.