Facebook Weekly Review
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Wave Analysis
During the previous week ending 6th Of September 2019, Facebook shares attempted a breakout above the upper trendline but ended up getting contained within the channel formation. While the price is contained within this shape formation, I expect nothing but a possible momentum to the upperside. As it is on the hourly chart, we're expecting the corrective three wave cycle to proceed to the lowerside but should not go beyond the supportive trendline. The idea is to wait for a bounce from this supportive trendline to pick a low risk buy.
Trade Recommendations:
Wait for a bounce from the supportive trendline to pick a buy towards the upper trendline.
GazpromNef weekly review
Wave Analysis
Last week, the shares of gazpromNef declined steeply, but ended up closing during a few points below its opening price. The previous week's candle is a possible bullish continuation candle,and if the current week''s price can rise above the previous week's highest high, then that will mean we're continuing to the upper side. The anticipated bullish price rally is the continuation of both the impuslive waves (5) and (v) and should continue upwards towards 500.00 or even higher.
Trade Recommendations:
Look for low risk buy opportunities with your first take profit around 500.00.
Lukoil Weekly Review
Wave Analysis
For the past two weeks, Lukoil shares has been on the gaining end. The previous week's candle saw the shares of this company rise tremendously and is now above a significant resistance level 5415.0. This is a key level and while the price is contained above it, we're looking for long term buy orders. The idea is to wait for retracements then pick low risk buy orders towards 5970.5. A break above this level will push the price even higher towards 6000.00 or even higher.
Trade Recommendations:
Rebuy Lukoil shares from 5415.0 with your take target at 5970.5.
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