SPX500 Weekly Review
Wave Analysis
Few days ago, SPX500 established a swing high around 3594.0. We expect this rebound to have marked an end to the impulsive wave [c] that the current bearish price rally is the continuation of a corrective wave count and could see price breakout below 61.8% fib level towards 2944.0. On the flip side, should the price breakout about above 3421.0, then this will be a good place to consider a possible long term buy position with an ultimate target set around 3594.0 and could breakout much higher.
Trade Recommendations:
Wait
Brent Oil Weekly Review
Wave Analysis
After consolidating for almost three months, Brent oil eventually went below the supportive trend line. The price attempted to breakout below 23.6% fib level but could not breakout any lower. As it is now,we are waiting for a second breakout below 23.6% fib level to confirm a possible continuation to the lower side with an ultimate target fixed around 38.2% fib level. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lower side and should breakout below 38.2% fib level towards 50.0% fib level.
Trade Recommendations:
Resell a breakout below 23.6% fib level towards 50.0% fib level.
NQ100 Weekly Review
Wave Analysis
After a drastic decline earlier this month, NQ100 is currently consolidating. Overall, this asset is still upwards, we are basically waiting for a breakout above 61.8% fib level to pick a low risk buy position towards 12468.3 or even higher. And in case the price breaks below 10676.0, then this will be a good place to consider a possible long term sell position with an ultimate target set around 10326 a break below this target will push the price much lower with the next ideal target fixed around 9421.1.
Trade Recommendations:
Wait
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