Weekly Review | 15 January 2021

 Natural Gas Weekly Review


Wave Analysis

Natural gas is currently in a minor range, slightly breaking above the upper trendline and also below the lower trendline. On this chart, we are looking for possible signs of sustenance above the upper trendline, if this is the case, then we will be expecting further momentum to the upperside and should breakout above 2.900 towards 3.415. If you are on this chart right now, keep looking for more buy positions expecting price to rise beyond 3.155 towards 3.415. On the flip side, only a break and close below 2.255 will attract a possible long term sell position towards 1.615.

Trade Recommendations:

Look for long term buy positions towards 3.415.

SPX500 Weekly Review


Wave Analysis

SPX500 is currently within an ascending channel formation, While the price remains within this range, we expect a surge much higher. If by the end of this week, the price breaks and closes above the upper trendline, then we will be expecting further momentum much higher and should breakout above 3846.0. As it is now, we are still upwards expecting a breakout above 3863.5. If the price pulls back even lower, then we will be expecting a rebound from the lower trendline to pick a possible buy position.

Trade Recommendations:

Wait

Gazprom Weekly Review


Wave Analysis

Gazprom continues to rally to the upperside and is still pretty much bullish both on the daily and on the weekly charts. While we continue to see sustenance above the zone 215.21-214.0, we expect nothing but  a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (v) to the upperside and should breakout above 230.00 towards 245.00 or even higher. If the price pulls back to to the lowerside, then the next best place to consider a buy is from 215.2.

Trade Recommendations:

Look for more buy positions.

Bob Stan
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