Market preview – week of Jan. 7, 2018

Summary

  • The S&P500 index is expected to continue the bounce for another week. The 2575-95 zone remains the target for a test of the high level – provided the index stays above the 2450 line.
  • Oil is expected to go sideways for consolidation within the $50.50 to $45.20 range.
  • GOLD had a reversal candle last Friday> It could start to have a small correction move and retest the $1264 area, the top line of longer-term rising uptrend. We expect this line can hold gold up.

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