Dow Jones Weekly Review
Wave Analysis
#DJ130 is currently in an active up trend. This index continues to sustain itself above the three alligator lines, as it is now, we are looking for long term buy position expecting the price to rally much higher with the next target set at 35000.00. If the price pulls back to the lowerside, then the best place to wait for a buy is around 23.6% fib level, a break below this fib level will mean we're waiting for price around 38.2% fib level. On this chart, only a breakout below 50.0% fib level will push the price much lower towards 1.30830.
Trade Recommendations:
Wait for a possible buy from around 50.0% fib level towards 34,250.
Gold Weekly Review
Wave Analysis
On this chart, we took the previous month\s highest high as the swing high for fib calculation and the current month's lowest low as the swing low, 1682.12. As it is now, the price has pulled back almost 38.2% fib level and is continuing much higher but should not go beyond 50.0% fib level. If the price corrects itself above this level, then further momentum much higher is expected much higher with the next ideal target set 1944.68. A rebound from the inner upper trend line will mean we're looking for a possible sell position towards 1649.30.
Trade Recommendations:
Wait for a sell from around 38.2% fib level towards 1649.30.
WTI Weekly Review
Wave Analysis
During the previous month. WTI bounced off from the level 57.799 headed straight to the upperside and is still pretty much bullish. As it is now, we expect the impulsive wave (5) to continue to the upperside and should breakout above 66.585 towards 68.925. On the flipside, should the price breakout below 57.799, then further momentum to the lowerside is expected with an ideal target set at 51.110. A break below this level will push the price much lower towards 43.930.
Trade Recommendations:
Remain long towards 66.585.
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