SPX500 Weekly Review
SP500 has been bullish since last week. Currently, the market is in a corrective phase, which is the ABC corrective pattern. The market has formed a descending wedge, which is an expanding bullish reversal pattern that extends from the beginning of major wave (I), at 4810.6, to the end of major wave (V), at 3560.6. Presently, the market is moving impulsively to the upside, making it an ideal time to place buy orders with a take profit set at 2465.9. However, it is important to keep in mind that should the price fail to break above 4108.9, this setup will be invalidated
Trade Recommendations:
We’re buyers
Gold Weekly Review
XAUUSD is currently very bullish. The market is in a corrective phase which is the ABC corrective pattern. As we can see on the chart above, the market formed a bullish continuation pattern at 1956.02. This shows that the bulls are still in control and sooner or later we’re likely to see impulse moves to the upside. I expect this pair to buy at least up to 2070.17 this is where I expect the corrective phase to end. You can place a buy order now with your take profit at 2070.17. Should the market break below 1933.87, this setup will be invalidated.
Trade Recommendations:
We’re sellers
Silver Weekly Review
XAGUSD has been very bullish since the beginning of last week the market is in a corrective phase which is the ABC corrective pattern and within this corrective pattern, there is a minor impulsive 5-wave pattern forming. As we can see on the chart above the market has been moving in form of an ascending channel from 21.486, this is a bearish reversal pattern. I expect the market to buy up to 24.608 and then drop up to 21.486. Should the market break above 24.608, this setup will be invalidated.
Trade Recommendations:
We’re buy for now
