Jugok Trading Blog

Insurance stocks are rebounding strongly, as expected. They are likely to continue to rebound next week as well. United health and Progressive look relatively strong. Leading Company is United Health (NYSE: UNH).

The UNH stock price is likely to rebound to $ 282.66. Then, it is likely to drop again. The downside support line is likely to be $ 258.93. If it rises above $ 268.58 again from the support line, it would be a signal for a higher rise.

Progressive (PGR) is likely to rebound to around 68.95
Allstate (ALL) is likely to rebound to around 92.05
Travelers (TRV) is likely to rebound to around 130.00
Visa (V)is likely to rebound to around 145.40

[UNH stock price weekly chart]

Stock price indexes are rebounding strongly.
Many experts say the stock market will collapse. Someday a peak will be established. However, it seems not yet.

What we have to think about is what happens if the stock market is completely melted down at this moment. It seems that what left in the hand of US is only stock index, not stock market.

They are expected to use all methods and means to boost the stock index. Even though the stock market is in a mess, the stock index is likely to go up or sideways.

From a short-term perspective, S&P 500 is likely to rebound to around 2824. Perhaps, then it will fall again.

Last fall, I expected the SP500 to drop to 2329, and it was a very accurate prediction. I hope my forecast this time will also be right and will be helpful to visitors.

[S&P 500 Index Futures weekly chart]

The market is moving against the opinion of experts. The market has returned to its own path. The market is likely to fulctuate a lot next week. I will hold the position.

Gold: The gold market has established its peak. Gold prices are likely to fall with fluctuating. The opportunity to sell still remains. If it rises above $ 1287, it will be an opportunity to sell. The opportunity to sell silver has passed.
WTI: Crude oil prices will go up further. But it will soon reach the peak of the rebound. I will not go into the oil market yet.
Corn: The grain market does not look good. Corn attracts our attention. However, the shapes of soybeans and wheat are not good. I will wait for a safer opportunity. Sugar prices seem to be weak. If it does not rise strongly next week, I will close.

Eur: The euro will continue to fall. Next week, EURUSD is likely to fluctuate. The opportunity to sell the euro has already passed. If it goes over 1.147, it will be a selling opportunity.
USDCAD will continue to r…

The Canadian dollar surged.
USDCAD is likely to fall some further. Maybe, it could be down below 1.311.

However, in the long run, USDCAD will go up.
Now is the time to wait outside the market. The market needs time to get back on track and prepare for going up again.

The key line for the USDCAD exchange rate is 1.325.

[USD CAD rate weekly chart]

The market is moving against the expectations of the experts. Today, the market seems to be out of chaos. It seems that it is regaining sense of direction.
>> Sold Gold (XAUUSD) at 1295.15

Gold: People seem to expect gold prices to keep rising. In my opinion, gold prices seem to be preparing for a plunge. It would be better to sell over $ 1295. If silver rises above $ 15.7, it will be a good selling opportunity.

WTI: Crude oil continues to rebound as expected. There is still room to go up yet. It may go up to $ 54.5. However, I will wait for the market to stabilize.
Corn: The grain market is not attractive, however, if corn price rises tomorrow, I will buy some. Sugar makes me disappoint today. Unexpectedly, it looks weak. I will watch until Monday. The key price of sugar is 12.53.

Eur: In the long run, the euro will continue to fall. The key rate for EURUSD seems to be 1.15. If the euro rises above 1.48, it is better to sell. I will hold the selling position.
SP500: The stock marke…

The market seems to have lost sense of direction. It is in turmoil. This means peak and bottom.
>> Sold Gold (XAUUSD) at 1295.20

Gold: Gold prices are on the sideways. It will begin to decline sooner or later. If the gold price soars above $ 1,300, it will be a very good selling opportunity. Silver prices have already begun to decline. If gold and silver prices soar, I will sell more.

Eur: Those who talk about the dollar weakness offer a number of reasons. However, the market will move in the opposite direction. The euro will decline. EURUSD has already established a peak. I will hold the selling position. If it goes over 1.146, it will be a selling opportunity.

WTI: Crude oil prices are likely to go up a little more. It is likely to rebound to about $ 55. I will wait for the market to stabilize.

SP500: The stock index is likely to rise very slowly. The market is very unstable. It is better to be away from the market.

Sugar: We need to be interested in sugar. Sugar prices will rise.…

The gold and silver markets are very weak. In particular, silver prices are likely to plummet. Today or tomorrow, when the silver price goes up, it is better to sell silver. It is likely to bring about 3% profit.

SILVER Price Forecast and Trading (Spot, XAGUSD): 
Swing SELL(Short) 

Eentry Price  above 15.62 
1st Target Price  15.19  (+0.43pt,  +2.75%)
Stoploss Price  15.71  (-0.09pt,  -0.58%)

[Silver daily chart, XAGUSD]