The main driver of the past two weeks remains the growing dollar index, which...
Forecasts of the Head of the trading department Valdis Vuldorfs:
ES (S & P500)
No matter how many bears try to sell the market, buyers don’t give up and drag the market up again and again. Again, the mini-correction was bought out. The celebration continues! The last value is 4187. Most likely they will try to rewrite the last maximum again.
Yes, we were right, the current correction has continued. Purchases should start no earlier than at 2700, 2600, 2500.
If you are still holding longs with our previously recommended 1700, then congratulations, you have waited for the promised 1900! A rollback to 1800 is quite possible, and from there the gold will go to conquer its highs.
CL (WTI Oil)
Oil continues to move uptrend. Level 66 – which we talked about earlier has already been taken, it remains to reach the previous local maximum – 68.
It has been moving in different directions all week, the last value is 3.00. Most likely it will go higher, but the signal is too weak.
The last value is 150.15. Without positions, we are watching.
USD / RUB
The last value is 73.50. Practically without any movement all week. It can go up to 72.70. From this level, you can try to buy. We wait.
The headliner of the whole week is Bitcoin! Unfortunately, the level of 41000 announced last week did not resist and the cryptocurrency was dragged to 32600. But from this level it has already managed to go to 40,000, which just gave those 8000 corrections. The market has changed and now it is extremely risky to buy. The levels of 28000, 20,000 are looming on the horizon, which means a further decline.
The last value is 4.50. The copper market is finally correcting. Further purchases no earlier than at 4.30 and 4.10.
We have been holding the position for a week now. Platinum is drifting sideways, we are still waiting for the 1350 levels at 50% of the remaining position. At the same time, there is a breakeven at the entry level of 1130.
US, ZB (30-year bond futures)
154 and 160 levels to watch out for. The whole week it is unclear where it will go. Volatility is falling, and we know that this leads to a surge at a certain point. We wait.
DX (Dollar Index)
The last value is 89.65. If the 89.20 level does not hold up, then we will see a sharp move lower to 88.20, and possibly even lower. We are watching.
ZO (Oats Futures)
The first bonus this week will be oats. The last value is 362.60. Perhaps you will still be in time to catch tha las chance. It may go up to 380/390 or even try to take its last high at 420.
ZW (Wheat Futures)
The second bonus this week will be wheat. The last value is 657.10. Great point to buy. Targets 700, 760.