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Gold, Silver, Oil Weekly Analysis

Gold, Silver, Oil Weekly Analysis | 08 Juli 2016

Gold Weekly Review:

Gold, Silver, Oil Weekly Analysis

Weekly review:
 
During the previous week ending 1st July 2016, Gold markets traded perfectly long as previously forecasted and is still pretty much bullish. During this week, we expect a possible bullish price rally towards $1383 or even higher. In the mean time, we expect downward retracements towards $1320 to give us low risk buy opportunities. This view remains valid as long as the pair trades above $1320, a clear breakout below this level will culminate into a possible reversal to the lower side. This Commodity should be traded alongside Silver. These commodities have a strong positive correlation of up to +0.96 and will have a similar price action during this week

Trade Recommendations:

Expect a possible bullish price movements toward $1383 upon a clear downward retracements towards $1320.

Silver Weekly Review:

Gold, Silver, Oil Weekly Analysis

Weekly review:
During the previous week ending 1st July 2016, Silver markets traded perfectly long as previously forecasted and is still pretty much bullish. During this week, we expect a possible bullish price rally towards $21.41 or even higher. Earlier this week, we expect downward retracements towards $19.48 to give us low risk buy opportunities. This view remains valid as long as the pair trades above $17.79, a clear breakout below this level will lead to a possible reversal to the lower side. This Commodity should be traded alongside Gold. These commodities have a strong positive correlation of up to +0.96 and will have a similar price action during this week. Ideally, gold drags Silver along with it
Trade Recommendations

Expect a possible bullish price movements toward $21.41 or even higher.

Oil Weekly Review:

Gold, Silver, Oil Weekly Analysis

Weekly review:
 
During the previous week ending 1st July 2016, Oil markets traded short during the earlier parts of the week, before going massively long. The previous week's candle is pretty much bullish and may lead to further upward movements but should not go beyond $52.44. A breakout above this target will lead to further momentum to the upper side. In the meantime, we are waiting for a minor downward pullback towards $47.78 to give us low risk buy opportunities.

Trade Recommendations:

Remain long with your ideal target at $52.44

Bob Stan
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