Gold Weekly Review
Wave Analysis
Following the bounce from 1443.60, Gold markets pulled back to the upperside and is still very much bullish. We expect the bounce from 1443.60 to have marked an end to the impulsive wave (a) that the current bullish price rally is the continuation of the corrective wave (b) but should not go beyond 1547.11. We are waiting for a bounce from 1547.11 to pick a long term sell order. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lowerside and should break below 1443.60 towards 1333.60.
Trade Recommendations:
Waiting for a possible sell from 1547.11.
Gas weekly Review
Wave Analysis
Gas Cpntinues to decline perfectly inline with what was previously forecasted. As long as the price remains within the falling channel formation, I expect nothing but a possible momentum to the lowerside. The anticipatedn bearish price rally is the continuation of the impulsive wave (C) and should break below 1.395 towards 1.265 or even lower. If you are looking at this chart now, wait for a possible break below the previous day's lowest low to pick a possible low risk sell order.
Trade Recommendation:
Remain short.
Brent Oil weekly Review
Wave Analysis
Brent oil is currently in an active downtrend. As long as the price remains below the previous day;s lowest low, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of an impulsive wave count and could push price much lower towards 20.00 or even lower. If you are looking at this chart now, you could wait for a pullback towards 43.960 to pick a long term sell order with your stop loss above 55.575 or wait for a resell from 40.050.
Trade Recommendations:
waiting for a low risk sell position.
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