SPX500 weekly Review
Technical Observation
SPX500 bounced off from the lower trendline and is currently heading to the upperside. While the price remains above the lower trendline, we expect nothing but a possible momentum to the uppersde. On this chart, I recommend looking for long term buy positions expecting a breakout above the upper trendline towards 4264.0. On the other side, should the price breakout below the lower trendline, then we will be looking for a calculated long term sell position with an ultimate target set at 3397.0.
Trade Recommendations:
Look for long positions towards 4048.0.
DAX Weekly Review
Technical Observation
DAX30 is currently within a rising channel formation. While the price does not clearly break and close below the immediate trendline, we are waiting for a clear sign for a buy to buy this index expecting the price to break and close above 14141.5. A breakout above this level will push the price much higher with the next ideal target set at 14639.0 or even higher. On the other side, should the price break below the lower trendline, then further momentum much lower is expected towards 13128.9.
Trade Recommendations:
Expect a rally towards 14141.5.
Silver Weekly Review
Technical Observation
Just before the end of the month, Silver rallied to the lowerside and is still below the lower trendline, while we continue to see sustenance below this trendline, we are looking for long term sell position towards 22.643. A breakout below this level will push the price much lower towards 17.222. A breakout again above the immediate trendline will give us a good place to consider a possible rally towards 29.099. A break above this level will push the price to the upperside with the next ideal target at 30.680.
Trade Recommendations:
Look for sell positions towards 22.643.
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