Gold Weekly Review
Wave Analysis:
During the previous tradding day, gold rallied to the lowerside and is still showing signs of continuing to the lowerside. As it is right now, on this chart, we are looking at nothing but a possible momentum to the lowerside. The idea on this chart is to keep looking for low risk sell positions expecting a possible rally towards 1895.93 and may continue to rally much lower. If the price breaks and closes above 1954.71, then this will be a good place to consider a possible buy order.
Trade Recommendations:
Wait for a buy around 1895.93.
Brent Oil Weekly Review
Wave Analysis:
During the previous trading week, the brent oil did not make any significant moves to the lowerside. As it is right now, I am looking for a possible bearish price rally towards 83.860 and may continue much lower. If you are looking at this chart right now, we expect nothing but a possible rally to the lowerside. The idea on this chart is to keep looking for low risk sell orders with the next ideal target set around 82.330 and may push the price much lower towards 77.597.
Trade Recommendations:
We’re sellers towards 82.330.
SPX500 Weekly Review
Wave Analysis:
SPX500 rallied to the lowerside after bouncing off from the upper trendline. As long as the price remains below the upper trendline, we expect nothing but a possible momentum to the lowerside. The idea on this chart is to keep looking for low risk sell positions expecting a possible rebound from the immediate lower trendline. If the price breaks and closes above the upper trendline, then a momentumto the upperside is expected.
Trade Recommendations:
We’re short.
