Market Research

16th jan mkt outlook

FEB GOLD Resist: 129680-129800, 130940* ST Trend: Up (128940) Supprt: 128530, 127800, 127160* Obj: 130940? TRP: 1260.80 Comment: Overall the market is still short term bullish and pop over 130040 alerts for rallies to reach weekly resistance at 130940*+/-. Stalled rallies the past few days cautions for peaking action. Corrections must hold 127800+ to build for rallies. A sustained penetration under 127800 calls for selling to test 127160* for a topping downturn to 126080* support. MAR SILVER Resist: 15695, 15805-1583, 16015* ST Trend: Up (1562) Supprt: 1559-, 15485, 1535* Obj: 16015 TRP: 15.35 Comment: The market remains in the short term bull trend, but needs a pop over 1588 to kick off another upswing to reach weekly resistance at 16015*+/-. Near term setbacks cautions for a peaking turn. Corrections should hold 1559+ to build for renewed rallies. A sustained penetration under 1559-1556 calls for selling to attack 1535* for a topping downturn. FEB CRUDE OIL Resist: 5313-5319, 5536*+/- ST Trend: Up (5199) Supprt: 5166, 5000-, 4894* Obj: 5536 TRP: 48.94 Comment: The market is bullish. The strength of the current drive suggests potential to a 5536* retracement resistance level. Near term trade remains in a minor setback that could extend […]

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