Last month, the SPX500 rallied to the lowerside and is still showing signs of continuing even lower. As it is right now, we are looking forward to a possible rally towards 3455.6 and is likely break and close below it. If the price breaks below it, then further momentum to the lowerside is expected with the next ideal target set at 2804.6. However, if the price bounces off from 3455.6, then this will give us an ideal place to consider a possible long term buy position with our ideal target set at 5083.1.
Trade Recommendations:
We're watching for a buy around 3455.6 towards 5083.4.
Gold Weekly Review:
Wave Analysis:
Gold is currently trading within a contracting wedge formation. While the price remains within this shape, we are waiting for a clear breakout below it to pick a possible long term sell position. And in case the price bounces off from the immediate lower trendline, then, this is going to be a good place to consider a possible long term buy position towards the upper trendline. On this chart, a buy from the lower trendline looks ideal and can safely be recommended.
Trade Recommendations:
We're watching for a buy towards the upper trendline.
CAC40 Weekly Review:
Wave Analysis:
CAC40 continues to rally in a bearish manner and is now below 6130.1. As long as the price remains below this zone, I expect nothing but a possible momentum to the lowerside. As long as the price remains below this level, I expect further bearish price rally towards 5220.8 and may continue much lower. And on the other side, should the price breaks and closes above 6130.1 and may continue much higher towards 7291.4 and may continue much higher.
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