For week of Jan. 13th: The Sun/Venus conjunction is over the weekend and Mercury enters Aquarius. The next Full Moon is on Wednesday and retrograde Venus squares Mars on Thursday. Key planetary support for the March E-Mini at 1819 – 1817 that held the low last week. The E-Mini needs to crack 1817 to trigger another sell signal or the strength can continue. This week’s key reversal days or turning points in all markets are likely to be on Monday and Thursday. Good trading to you!
Commentary on Gold: Feb. Gold tested and held above important planetary support for the Sun/Venus conjunction at 1217 last week. This is key support this week. Gold will have an upward bias unless price breaks 1217. The next upside target and hurdle remains at 1250 – 1270 planetary resistance.