Waiting to buy Gold

 Natural Gas Weekly Review

Waiting to buy Gold

Wave Analysis:
During the past week, the natural gas rallied to the lowerside but could not break below the level 6.586. This is a key support level and while the price does not clearly break and close below it, I expect a possible rebound from it to pick a buy position towards 8.083. On the otherside, should the price break and close below it, then we will be expecting a possible continuation to the lowerside towards 4.78 and may continue much lower.
Trade Recommendations:
Wait
Gold weekly Review:
Waiting to buy Gold
Last week, gold rallied to the lowerside but failed to break below the lower supportive trendline. As long as the price does not clearly break and close below this trendline, I am looking forward for a possible long term buy from this trendline to pick a possible buy position with an ideal target set along the upper trendline. And on the otherside, should the price break and close below the lower trendline, then this will be a good place to consider a possible long term sell position towards 1665.15.
Trade Recommendations:
Buy a rebound from the lower trendline towards the upper trendline.
CAC40 Weekly Review:
Waiting to buy Gold
Wave Analysis:
The French stock's index is currently in an active downtrend. As long as the price remains below 6060.6, I expect nothing but a possible rally to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lowerside and may see the price break and close below 5298.9 and may continue much lower with the next ideal target set at 4238.1. On the otherside, a rebound from 5298.9 may call for a buy position towards 6060.6 and may push the price to the upperside with the next ideal target set at 6764.8.
Trade Recommendations:
We're sellers towards 5298.9
 
 
 
 
Graham Osano
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