Gold weekly Review
Wave Analysis:
During the previous week, Gold markets plunged to the lowerside and even went below the weekly support level 1203.19. As long as the price remains below this weekly support level, we expect nothing a possible momentum further to the lowerside. The anticipated bearish price rally will be unfolding of an impulsive wave count and should continue further to the lowerside but should not go below 1074.15. This view can only be invalidated in case the price again break above 1203.19, if this is the case, then we’ll expect a rally further upwards.
Trade Recommendation
As long as the price remains below 1203.19, we expect nothing but a possible momentum further to the lowerside.
Gas Weekly Review
Wave Analysis:
Perfectly as previously forecasted, Gas Commodity bounced off from the upper trendline and is still pretty much below this level. As long as the price remains below this trendline, we expect nothing but a possible momentum to the lowerside. If you went short previously based on the other day’s forecasts, you can still keep this position but have you take profit at 2.567. If this target is broken, then we expect further momentum to the lower side with an ultimate target at 1.750. Only a clear above the upper trendline will push the price upwards.
Trade Recommendations:
We’re short from the upper trendline.
SPX500 weekly Review
Wave Analysis:
During the previous week, we saw a correction of the impulsive wave (5) to the lowerside but is still above the daily support level 2871.4. As long as the price remains above this level, we expect further momentum to the upperside with an ultimate target at 3000.00. If you didn’t go long previously, you can still look for long position now, especially now that the price is around 2871.4, with this long position, we expect nothing but a possible momentum to the upperside towards 3000.00. As long as the price remains above 2875 only a long positions are recommended.
Trade Recommendations:
Look for a long position now towards 3000.0
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