Daily Market Review 30 of January

A few words about equities. Dow Jones (13954.42, +0.52%) moved further up and is approaching 14050-14100 resistance. If it is broken, further gains on the upside are possible. Asia-Pacific region is mostly up: ASX (4922.10, +0.23%), Hang Seng (23888, +0.98%), and Nikkei (10986, +1.10%). The latter one is trading higher near its resistance around 11000. An inability to overcome this level might keep the index in the range between 10400 and 11000 for a while. Commodities trade with mixed trends. Oil (97.59, +0.02%) looks strong. It has appreciated further and looks bullish to continue to rise. The goal is 103 in the coming days.  Gold (1663, +0.13%) remains ranged. It was a bit up in its 1625-1700 range. There is an important support at 1660. If it doesn’t hold, most probably Gold will dip to 1625.  Silver (31.44, +0.84%) has risen and at the moment is mixed. Though a dip to 30.50-30.00 cannot be excluded.



The Euro (1.3492) has appreciated well and can continue its growth to 1.3530-60. This area will be an important Resistance region. It needs to be broken to continue the bullish trend. A failure to breach this level will be a signal to a potential downfall.


The Pound (1.5759) has bounced back from the low of 1.5674. Apparently the currency is trying to compensate for recent underperformance. It can rise further to 1.5800, if the trend withholds.