Weekly Market Analysis – Week 28 (8th to 12th July 2019)

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The trade war truce at G20 meeting didn’t jostle the market beyond the key level of 3000 last week. This week, the Federal Reserve is in focus…

Markets gap up on Monday after a trade war truce at the G20 meetings last weekend. As expected, the S&P500 mini futures (ES) did a gap up and found the key level I highlight last week (2980). There was no follow through initially and ES took a small correction downwards the 2950 zone. With that performance, it’s a matter of time that ES takes out the key round number of 3000. It did so briefly, and coincided with the independence day 4th July. Markets tend to be bullish heading towards a holiday. This week, I am going to cover more markets. Namely the S&P 500, Germany 30, Crude Oil, Gold & AUDCAD. Watch the video to find out where are the key levels & actionable for the coming week…

Here are the annotated charts in the video:

S&P 500 Futures (/ES)

Key Levels: 3020-3030 upside target for the week; 2970 support zone.

Germany 30 (DAX)

Key Levels: 12700 (R1) upside target for the week; 12400 support zone.

Gold

Key Levels: Upside target $1425; $1390 (PP) support zone.

West Texas Intermediate (Crude Oil)

Key Levels: $59.15 upside target; $56.25 (PP) support zone.

AUDCAD

Key Levels: 0.9185 upside target; 0.9100 support zone.