Gold Weekly Review
Wave Analysis
Last week, Gold markets rallied to the lower side but could not break below the level 1760.65. As long as the price does not clearly break and close below this level, this remains to be a good place to consider a possible long term buy position. The anticipated bullish price rally is the unfolding of an impulsive wave count and may see the price break above the level 1831.44 and may continue much higher towards 1885.74.
Trade Recommendations:
We're watching for a possible buy from 1780.85 towards 1831.44.
CAC40 Weekly Review
Wave Analysis
During the previous trading week, nothing much happened on the French Stocks Index. As it is right now, we are still looking forward to further momentum to the lower side and could see the price rally lower towards the lower trendline. If the price should rebound from the lower trendline, then this will mark an end to the impulsive wave (v) and the beginning of a correction to the upper side. If the price breaks below this trendline, then we'll be heading to the lower side.
Trade Recommendations:
Expect a possible rally towards the lower trendline.
SPX500 Weekly Review
Wave Analysis
SPX500 is currently in a corrective mode. After establishing a swing high around 4757.2, the SPX500 rallied to the lowerside but is yet to break below the level 4541.1. As long as the price remains above this level, this remains to be a good place to consider a possible long term buy from. The anticipated bullish price rally is the continuation of the last impulsive wave (v) to the upper side and should see the price break above the recent highest high towards 4890.0 towards 5k or even higher.
Trade Recommendations:
We're buyers towards 5k.
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