Last week I got a cold and didn’t make my weekly analysis. Sorry about that. I believe you doing fine anyway. SP500 pulled back lower than I expected based on news about Trump’s impeachment. Well, you know my opinion about it. US stock market recovered at the end of the week after positive comments regarding trade deal and Brexit. News driven moves usually give a pullback or consolidation. So, likely we need more time before further upside. My recent research shows we are still in a bull market with the same target. However, I decided to stick more to commodities instead of stocks. This pre-election fight can bring a lot of mess to the market. So, I just want to avoid additional risks for managed accounts.
EUR/USD rallied last week after news that the Brexit deal can be reached till the end of this month. There is a clear accumulation in the 4h chart and channel up. So, follow basic entry techniques to find buy point. I believe we are moving to 1.1250.
One more interesting market is the energy sector, specially Heating Oil as it is the strongest one. We already broke to the upside. Those, who missed an entry, should wait for a pullback or any signals in 4 h chart. I think we can see 2.100 again.
Wishing you a great week!
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