CAC40 Weekly Review
Wave Analysis
Last week, the French stock's index rallied intensely to the lower side and is still showing signs of continuing much lower. As it is right now, I expect a possible extension of the last impulsive wave (c) to the lowerside and may see the price break below 5808.9 and could continue much lower. On the flipside, in case the price break above the Friday's Candle's highest high, then this will be the ideal place to consider a possible long term buy position.
Trade Recommendations:
We're sellers for now.
Brent Oil Weekly Review
Wave Analysis
Last week, Brent oil rallied intensely to the upperside but is currently approaching a resistance zone 116.612. This is a key level and while the price does not clear break and close above it, we are waiting for a clear rejection from it to pick a possible long term sell positio back towards 92.370. A break above this resistance will mean the price is continuing much higher with the next ideal target set around 118.90 and may extend much higher.
Trade Recommendations:
We're waiting to buy a break above 116.612.
Gold Weekly Review
Wave Analysis
Gold is currently within a significant resistance zone 1905.30-1998.8. As long as the price remains within this range, we remain on the sidelines. We are basically waiting for a breakout above 1998.8 to pick a possible long term buy position with the next target being 2060.5. The idea on this chart is to continue looking for more buy positions. Otherwise, if the price breaks below 1905.30, then we will be looking for a possible long term sell position towards 1718.06.
Trade Recommendations:
Wait and buy a break above 1998.8 towards 2060.6.
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