WTI Weekly Review
Wave Analysis
WTI is currently bouncing from the supportive trendline. As long as the price remains above this trendline we are looking for a possible momentum to the upper side. The anticipated bullish price rally is the continuation of the last impulsive wave (E) to the upper side and should breakout above the upper trendline and could extend much higher. On the flipside, if the price breaks below the same trendline, then further momentum to the lower side is expected.
Trade recommendations:
Buy a rebound from the lower trendline towards the upper trendline.
SPX500 Weekly
Wave Analysis
Just as previous trading week, SPX500 continued to the upperside and is still pretty much bullish. While the price remains above the moving averages of indicator attached, we expect nothing but a possible momentum to the upperside. If the price breaks below the same MAs, then we will be expecting nothing but a possible momentum to the lowerside is expected with an ideal target set around 4033.0 and may extend much lower.
Trade Recommendations:
We're buyers
Gold weekly Review
Wave Analysis
During the previous week on Friday, gold rallied to the lower side and even went below the lower trendline, then we will expect nothing but a possible momentum to the lowerside is expected. This is the continuation of the last impulsive wave (c) to the lowerside and should break below 1700.06, and may extend much lower towards 1500.31. On the flipside, only a rebound from 1700.06, will push the price to the upperside towards the upper trendline.
Trace Recommendation:
We're sellers towards 1700.00.
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