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Weekly Review

Weekly Review | 21 October 2022

 Gold Weekly Review:

Wave Analysis:
During the previous week, Gold failed to sustain itself above 1685.77. As long as the price remains below this level, we expect nothing but a possible momentum tp the lowerside, the anticipated bearish price rally is the continuation of the last impulsive wave cycle and will see the price rally tp the lowerside towards 1422.18. On this chart, sell positions look ideal and can sagely be recommended as long as the price remains below 1685.77 and will continue towards 1422.18
Trade Recommendations
We're sellers towards 1422.18
Dow Weekly Review:
Wave Analysis:
Last week, Dow failed to sustain itself below 28989. As long as the price remains above this level, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of an impulsive wave count and should see the price rally towards 31190. If the price successfully breaks and closes above this level, then further momntum to the upperiside is expected. On this chart, as it is right now, only buy positions looks ideal.
Trade Recommendations
We're buyers towards 31190.
#SPX500 Weekly Review
Wave Analysis:
The SPX500  continues to rally to the lowerside despite the previous forecasts that the price could rally to the upperside. On this chart, I am looking for nothing but a possible momentum to the upperside. If the price breaks and closes above the Envelopes indicator attached, then we will be interested in buy positions but with our target set around 3840 but could breakout higher.
Trade Recommendations:
We're on the sidelines for now.
Bob Stan
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