Market outlook: On Sunday, Feb. 1st, Venus completes a conjunction to Neptune. On Monday, the Sun sextiles Uranus. On Tuesday is the Full Moon. On Wednesday, Mars is inconjunct Jupiter. On Thursday, Mercury sextiles Saturn and on Friday, the Sun completes an opposition to Jupiter. This week’s key turning points points or reversals days in all markets are likely to be on Monday, Wednesday, and Friday. Monday and Friday are the strongest key days of the week. Good trading to you!
Commentary for Emini trading: The EMini is likely to rebound and turn up again on Monday. Friday’s Sun/Jupiter opposition is frequently found at tops/bottoms. If the emini continues to advance again until Friday, expect another top.
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Commentary on Gold: April Gold completed a short term top last week as expected and began to turn around back up again on Friday’s key reversal day. If last Thursday’s pivot low continues to hold, Gold is likely to advance higher again into Friday’s Sun/Jupiter opposition when another short term top is likely to complete.
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Commentary on Crude Oil: The trend still down in all time frames. Crude Oil completed at least a short term bottom last Thursday and turned up again as expected on Friday’s reversal day. A break out above 49.30 is still needed to confirm a move higher and to show more strength.
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Commentary on Eur/Usd: The trend still down in all time frames. Key planetary resistance remains at 1.1405 to break to another buy signal or the weakness may continue.
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