Silver Weekly Review
Technical Observation
Silver is currently in an active downtrend. While the price remains below the Trend indicator shown above, we are expecting further momentum to the lower side is expected with an ideal target set around 24.250, if the price breaks and closes below this level, then I will be looking for a possible rally much lower towards 23.470 and may extend much lower. As it is right now, I recommend looking for long term sell position with an ideal target set at 23.470.
Trade Recommendations:
We're sellers towards 23.470.
SPX500 weekly Review
Technical Observation:
According to the trend indicator attached, SPX500 is currently in an active up trend. While the price remains above this indicator, I expect nothing but a possible momentum to the upperside. As it is right now, we are expecting a possible breakout above the previous week's highest high to pick further momentum to the upper side is expected. If the price again breaks below this greenline then we will be expecting further momentum much lower is expected.
Trade Recommendations:
We're buyers towards 4500.
Brent Oil weekly Review
Technical Observation:
Brent oil is currently heading to the upper side. While the price remains above the greenline, I expect nothing but a possible rally to the upper side. As it is right now, we are looking for long term buy positions expecting the price to head straight towards 70 and may extend much higher. As we mentioned during the previous week analysis, we are holding onto buyers perspective on this chart with the next ideal target set 71.00.
Trade Recommendations:
We're buyers towards 71.89.
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