Brent Oil Weekly Review
Wave Analysis
During the previous trading week, Brent oil broke above 86.92, then pullback to the same level. As long as the price remains above this level, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the last impulsive wave (5) to the upperside and may see the price break above 90.90 and may extend much higher. On the flipside, should the price break below this level, then further momentum downwards is expected.
Trade Recommendations:
We're buyers towards 90.90.
SPX500 Weekly Review
Wave Analysis
Last week, SPX500 rallied intensely to the lowerside and is now below the level 4528.9. While the price remains below this level, I expect nothing but a possible momentum towards the verified support zone marked above. This zone, should act as a good place to consider a possible momentum to the upperside. Unless the price clearly break and close below this zone, I expect nothing but a possible momentum much lower.
Trade Recommendations:
We're waiting for a buy from the verified zone to pick a possible long term buy position.
WTI Weekly Review
Wave Analysis
During the previous trading, WTI rallied to the upperside and may likely break above 85.08. If the price breaks above this level, then I expect nothing but a possible momentum to 90.09. If the price breaks above this level, then further momentum much higher is expected. On the flipside, if the price can break below 83.33, then further momentum much lower is expected with the next ideal target set around 63.59 and may extend much lower.
Trade Recommendations:
We're buyers towards 90.90.
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