DAX30 WEEKLY REVIEW:
Wave Analysis:
According to the monthly chart attached, German stock’s index is currently in a a corrective mode. We expect the price to continue to the upperside and should see the price continue to the upperside and may likely head much higher with the next ideal target set at 15897.2 and may extend much higher. On this chart, keep looking for low risk buy positions unless the price clearly break and closes below this year’s lowest low.
Trade Recommendations:
We’re buyers towards 15897.2 and may likely continue to the upperside.
Gold Weekly Review:
Wave Analysis:
Gold is currently developing an upward trend. As long as the price remains above the two moving averages, we expect nothing but a possible rally to the upperside. The bullish wave is the continuation of an impulsive wave count and may see the price ascend much higher but should not go beyond 1930.35. If this level is broken, then further momentum much higher is exp0ected. On this chart, we are still holding onto buy positions.
Trade Recommendations:
We’re buyers towards 1903.19.
Brent oil weekly Review:
Wave Analysis:
During the previous few week’s the brent oil entered into an expanding descending wedge formation. As long as the price remains within this shape, we expect nothing but a possible move to the upperside and should not break above the immediate upper trendline. If you are looking at this chart right now, wait for a sell around the immediate upper trendline and should head straight towards the lower trendline. This bearish rally is the continuation of the corrective three wave cycle and may see the price extend much lower with the next ideal target set at 70.90 and may likely extend much lower. On this chart,. only sell positions looks ideal and can be recommended.
Trade Recommendations:
We’re watching for a sell towards 70.90
