Nightly Briefing 1/17/22 – The Forecast

Nightly Briefing 1/17/22

Nightly Briefing 1/17/22

We expect at least a  3-5 consolidation period to occur prior to the next rally. This pullback may occur after the Fed meeting into month end or between February 3-6. We will have a better idea by next week’s Fed meeting. This will be a great buy-the-dip trade into late February and early March. The overall pullback started after January 5th and should end between one of the two aforementioned time periods. However, major indexes are capable of rallying back up to their recent highs in meantime before a spike low forms. Expect a sharp ‘V’ bottom and rally off of this consolidation. Many analysts are calling for a crash into next week’s Fed meeting, something we do not see occurring,

Crude is at short term extreme resistance, $84, and China releasing strategic oil reverses should usher in a pullback below $80 in the coming days. This will be a buy-the-dip moment for oil and oil stocks as higher prices are expected into early March.

Metals have had a pattern of weakness in the 3-5 day periods prior to Fed meetings. We may see a price spike above $1830 only to be sold off into next week’s meeting. $1880 should cap rallies into late February with an outside chance for a retest of the June daily close peak of $1913 futures. Our breakout and multi-month trending trade is still forecast for gold, silver and miners from April-September with silver experiencing the most upside, targeting $40 by Q3.

January 27-29 post should see the entire crypto space start to produce a 4-6 week trending trade. There is not much time left to accumulate key altcoins. We will have key updates in our bi-weekly crypto briefings in the coming days.

The current consolidation period is resembling the period right before early October when Uranium finished a pullback and broke out to move up over 40% in weeks.

We have a Q1 peak for many commodities  in early March before a 3-4 week consolidation period takes place.

Rumble has a strong chance of breaking $20 by mid-February.