Start
trading

Main >
Analytics
>
Fresh forecast
>
Elliott waves analysis
>
Weekly Review

Weekly Review | 14 May 2021

 Gold Weekly Review

Wave Analysis

During the previous week ending 7th of May, Gold rallied to the upperside and is still pretty much bullish both on the daily and on the weekly charts. As long as the price remains above the 50.0% fib level, 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 beyond 2000.00 or even higher. If the price should pullback to the lowerside, then the best place to consider a possible buy position is around 61.8% fib level towards 2000.00.

Trade Recommendations:

Look for long term buy positions towards 2000.00 and may extend much higher.

ASX Weekly Review

Wave Analysis

The Australian index continues to rally within a range, not going above the upper trendline or below the lower trendline. As it is now, we are waiting for a rebound from the lower trendline to pick a buy position and a rebound from the upper trendline to pick a sell position. A breakout above the upper trendline will mean we are continuing to the upperside with the next ideal target set at 8000.00 and may breakout much higher towards 8500.00 or even higher. And in case the price breaks below the lower trendline, then  we will be looking for a possible long term sell position towards 6914.4.

Trade Recommendations:

Wait

Gas Weekly Review

Wave Analysis

Natural gas continues to rally below the zone 3.0378-2.975. This is a key zone and while the price does not clear lt break and close above it we are waiting for  rebound from it to pick low risk sell positions towartds4.00 and may extend much higher. If you are looking at this chart, wait and sell a rebound from the zone indicated above, and in case the price breaks above this zone, then we will be looking for long term buy orders. The anticipated bullish price rally is the continuation of an impulsive wave count and could see price ascend beyond 4.00.

Trade Recommendations:

Wait for a sell signal from the zone above.

Bob Stan
Agree with the review?
Traders' opinion:

Close
Log in

Show password

Hide password

 Forgot password?
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .

Our best awards:

FreshForex is a brand that provides access to online trading for clients from more than 158 countries all over the world. The Company's partners are the licensed European liquidity providers, banks, payment aggregators and systems with which the company has been cooperating for more than 19 years.
Clients must be at least 18 years old to use the services of the Company.
The company's services and information on the site are not intended for citizens and residents of some countries, such as Belgium, China, North Korea, France, Hong Kong, Russian Federation, Spain, Great Britain, USA, and also countries identified by the FATF as high-risk countries or countries with serious AML/CFT deficiencies; countries or regions that are under international sanctions. A complete list is available on the "Countries where the company's services are not provided" page. The Company does not have representative offices in the Russian Federation and does not register clients from the Russian Federation.
Risk Warning: Trading financial instruments with leverage carries high risks and can result in both profits and losses. Potential losses are limited by the deposit amount. Before deciding to trade, the client should assess their risk tolerance, experience, and knowledge level.

Freshforex.com uses cookies for better website operation, traffic flow analysis, and personalization. By using this website you agree to our Cookie Policy.
User Data privacy is protected in accordance with GDPR. The SSL certificate installed on the website transfers the information over a secure protocol.
The site contains links to websites of third parties. The Company does not check or control the third-party resources that are in any way related to the FreshForex site, so the Company is not responsible for any third-party information or materials posted.
By creating a link to a third party website, the Company does not endorse or recommend any products or services offered by the third party.
The website content is intended for informational purposes only. It should not be regarded as an offer or solicitation to any person in any jurisdiction in which such an offer or solicitation is not authorized. It also should not be considered as an offer/solicitation to any person to whom it would be unlawful to make such an offer or solicitation, nor regarded as a recommendation to buy, sell or otherwise deal with any particular currency or any other trading asset investment. If you are not sure about your local trading regulations, please, leave this website immediately.
© 2004—2024 FreshForex – Forex broker
Reproduction of the contents is allowed only with active hyperlink to original source.
Riston Capital Ltd (20623 BC 2012) with registered address at Suite 305, Griffith Corporate Centre, Beachmont, P.O. Box 1510, Kingstown, Saint Vincent and the Grenadines.