The bullish move in risk is overdue to for a pullback on a number of technical measures. As such, we have been looking for a February correction. The key point, however, is that price has yet to confirm the pullback, and without that, we prefer to remain long. With important targets so close (120.00 in Brent, 14,198 all-time high in the DJIA, and 95.00 prior high resistance in USD/JPY), we look for a few days worth of hesitation before the bulls make a run for the aforementioned targets.
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Barclays