SPX500 weekly Review
Wave Analysis
For the past few weeks as we forecasted, this index has gained value significantly following the bounce from 2598.0. As long as the price remains above this level, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upperside and should break above 2925.00 towards 3000.00 and could head even higher. According to the weekly chart attached, only long positions looks more ideal and can be recommended towards 2925.00.
Trade Recommendations:
We're long towards 2925.0.
Gold Weekly Review
Wave Analysis
Perfectly as we forecasted, Gold markets dropped drastically after bouncing from the 4 hour resistance zone 1234.73-1238.09 and is still pretty much bearish both on the daily and the weekly charts. As we said few months ago, as long as the price is below 1352.0, we expect further momentum to the lowerside with an ultimate target along the supportive trendline. And should price break below this level, then we'll expect further momentum to the lowerside with the next ideal target at 1167.20.
Trade Recommendations:
We're short.
Brent weekly Review
Wave Analysis
After an attempt break below 70.930-70.399, ealier today, Brent Oil gapped higher and is now above the same zone, as long as the price is above this zone, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally will be th unfolding of a corrective wave count and should break above 75.457, break above 79.740. According to the daily chart above, only buy positions looks more ideal, but should the price again break below 70.399, then this will be a good place to look for sell orders.
Trade Recommendations:
We're long above 70.938
101% Double the volume
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