Silver Wave Review
Wave Analysis
During the previous week, the corrective three wave cycle extended significantly to the lowerside and is still pretty much bearish. We expect the bounce from 18.480 to have marked an end to the corrective wave (b) that the currently bearish price rally is the continuation of the last impulsive wave (c) and should break below 17.410 towards 16.330. This view can only be invalidated in case the price breaks above the end of the corrective wave (b), if this is the case then further momentum towards 19.560 even higher is expected.
Trade Recommendations:
We're short with the impulsive wave (c) towards 15.980.
Gold Wave Review
Wave Analysis
Few days ago, Gold CFD rose significantly but could not go beyond the level 1554.00, we expect the bounce from 1554.00 to have marked an end to the impulsive wave (v), that the current bearish price rally is the continuation of the corrective three wave cycle and should break below 1433.00 towards 1364.00. Ideally, we expect the bounce from 1519.50 to have marked an end to the corrective wave (b), that the current, immediate bearish price rally is the continuation of the impulsive wave (c) and should extend towards 1416.00 or even lower.
Trade Recommendations:
Sell Gold with your take profit at 1433.00.
SPX500 Weekly Review
Wave Analysis
For the past few days, SPX500 has been gaining value and is currently rallying around a significant resistance trendline. As long as the price remains below this trendline, we're waiting for a possible bounce from this trendline to pick a low risk sell orders. The anticipated bearish price rally is the continuation of a corrective wave count but should not go beyond 2834.00. This view can only be invalidated in case the price successfully breaks above 3056 handle, if this is the case, then further momentum towards 3080 is expected.
Trade Recommendations:
Expect a bearish rally towards the lower trendline.
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