E SPX, Gold, Oil And G6 Targets For The Week Of January 20

At the end of last year we promised to start the New Year with an update of the key support/resistance levels for the 2020 forecast. Here’s the relevant chart, and the levels are 3200, 2950, 2735, the bottom of the current uptrend channel, and the trendline connecting the ’18 and ’19 highs:

The weekly chart clearly show that both price and time wise, the current swing is getting long in the tooth. However, market breadth is neutral, both the daily and weekly signals remain long, and the weekly targets point to higher upside and downside levels:

Current signals: Daily Long, Weekly Long*

The projected trading range for the SPX in 2020 is 3260-3360.

For Oil, Gold and G6 weekly targets and Buy/Sell pivots, check the TV page which gets updated on Monday.

*Please note that the signals are provided for informational purposes only. They are in effect as of the close on Friday and may change as soon as the markets re-open.

Charts, signals and data courtesy of OddsTrader, CIT for TradingView and NinjaTrader 8

For intraday charts and update follow us on TradingView

Disclaimer: Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money ...

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