Brent Oil Weekly Review
Wave Analysis:
Few days ago, The Brent Oil bounced off a few pips from 105.811-103.907, headed straight to the lowerside but is still above the zone 92.761-91.113. As long as the price does not clearly break and close below the lower zone, we are waiting for a rebound from it to pick a low risk buy position. In case the price breaks and closes below 91.113, then this will be a good place to consider a possible long term sell position. The anticipated bearish price rally is the continuation of the last impulsive wave (5) and may see the price extend much lower towards 80.00.
Trade Recommendations:
Wait and buy a rebound from 92.761-91.113.
Gold Weekly Review
Wave Analysis:
Last month, for the better parts of the month, Gold rallied to the lowerside and is still showing signs of continuing much lower. On this chart, I expect nothing but a possible rally to the lowerside. The anticipated bearish price rally is the continuation of the last impulsive wave (c) to the lowerside and may see the price break and close below 1645.58 towards 1512.89 and may likely extend much lower. On this chart, I am looking for low risk sell positions.
Trade Recommendations:
We’re looking for a possible long term sell positions towards 1512.76.
SPX500 Weekly Review
Wave Analysis
Few weeks ago, the price bounced off from the level 3672.5 and may likely extend much higher. As it is right now, I expect a possible a possible extension of the last impulsive wave (5) to the upperside and may likely continue to the upperside towards 4823.6 and may likely break even higher. On the other side, should the price break below the level 3672.5, then further momentum to the lowerside is expected with the next ideal target set at 2947.0.
Trade Recommendations:
We’re buyers towards 4823.6.
