Gold Weekly Review
XAUUSD is currently in a corrective phase, and the market is forming the ABC corrective pattern. As we can see from the chart above, the market has been moving within an ascending channel from 1988.57 to where it is now. However, ascending channels are typically bearish reversal patterns. Currently, the price is at the minor corrective wave "A," which is at 1997.49. I anticipate that the price will rise first to form a minor corrective wave "B" before dropping. You can consider placing a Buy order now with your take profit at 2036.97 and stop loss at 2000.31.
Trade Recommendations:
We're short
SPX500 Weekly Review
SP500 is currently very bullish, but it is currently in a corrective phase (ABC corrective pattern). As we can see from the chart above, the market has already formed minor wave "a," and it is currently forming the minor corrective wave "b." I anticipate that the market will form a bullish continuation pattern, possibly a falling wedge or a double bottom, and rise at least up to 4181.0, which is our minor corrective wave "C" target. You can consider placing a buy order now with your take profit at 4181.0 and stop loss at 4098.6. However, please note that this is a risky trade.
Trade Recommendations
Wait
Silver Weekly Review
XAGUSD is currently very bearish. This pair is in a corrective phase (Corrective pattern). As we can see from the chart above, the market has formed an ascending channel from the Major impulsive wave "I" at 25.466 to the end of the major impulsive wave "V" at 26.106. However, this is a bearish reversal pattern, and the market has already broken below its lower trendline impulsively. Therefore, we can be certain that this pair is now in a downtrend. You can consider placing sell orders now with your take profit at 24.958 (Corrective wave C).
Trade Recommendations
We're short
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