SPX500 Weekly Review
SP500 has been bullish since last week. The market is in a corrective phase, and the market is currently very bullish. The market formed a descending wedge (Bullish reversal pattern) that is expanding in nature, from the beginning of major wave (I),4810.6, to the end of major wave (V),3560.6. Currently, the price is at a major zone /support zone (3842.1). As we can see on the chart above, the market formed a double bottom. I expect this pair to buy at least up to 4265.9. You place buy orders now with your profit target at 4265.9.
Trade Recommendations:
We’re buyers towards 4302.9
Gold Review
XAUUSD is currently very bullish. The market has been in an uptrend for the last few weeks. The market formed a descending wedge (Bullish reversal pattern) from the beginning of the major impulsive wave (I), 2070.14 to the end of the major corrective wave (V),1620.34. The market has already broken above the upper trendline of this wedge. I expect the market to buy up to the beginning of this wedge which is at 2070.18. Price reaching 2070.18 will mark the end of the corrective phase. Lastly, Should the market break below 1943.89, this setup will be invalidated.
Trade Recommendations:
We’re buyers.
Silver Weekly Review
XAGUSD is very bullish. Since the beginning of last week, this pair has been very bullish. Currently, the market is in a corrective phase (ABC corrective pattern). This pair formed a descending channel that is form the beginning of OUTER minor corrective wave A (24.559) to the end of OUTER minor corrective wave C,(19.936), this is a bullish pattern. The market has already broken above the upper trendline of this channel, and I expect the market to buy up to the beginning of this channel (24.559).
Trade Recommendations:
We’re buyers
