SPX500 Weekly Review
SP500 index is currently bearish. The market has completed the impulsive V-wave pattern and has entered the corrective phase, following an ABC corrective pattern. Based on this analysis, there is an expectation for further downside movement towards the target level of 4048.7, identified as the minor wave "a". Considering these factors, it is recommended to place a sell order at the current market price. To manage risk effectively, it is advisable to set a stop loss at 4397.0, which can help mitigate potential losses if the price moves against the trade.
Trade Recommendations:
We're short
Silver Review
XAGUSD is currently in the process of forming the Major Wave "IV" with our target set at 23.408. The market has established a falling wedge pattern, which is typically indicative of a bullish trend, spanning from 22.949 to 22.336. As the price has successfully breached the upper trendline of this falling wedge, it serves as a strong confirmation of the pair's upward movement. It is advisable to place a buy order now, with a take profit at 23.408 and a stop loss at 22.542, while maintaining proper risk management.
Trade Recommendations:
We're long briefly
Gold Review
XAUUSD remains in an impulsive phase, with the market currently at major Wave IV, positioned at 1910.25. I anticipate a bullish surge from this level, targeting 2116.60, which we have identified as our major impulsive Wave V. We have received a buy confirmation, as the market has formed an inverse head and shoulders pattern, indicating a bullish reversal. This pattern is especially prominent on the 30-minute timeframe. It is advisable to place a buy order now, with a take profit set at 2116.60 and a stop loss at 1892.03.
Trade Recommendations:
We're long for now
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