manager photo
Online Assistant
We will be pleased to answer any questions you may have
Write Call
Close
Log in

Gold, Silver, Oil Weekly Analysis

Gold weekly Review:

Gold, Silver, Oil Weekly Analysis


Weekly review:

During the previous trading week, instead of going short, black wave [4] went a bit higher but could not close above the upper thick trend line, unless the price closes successfully above this trend line, we will be keen to look for short positions with an ultimate target at the middle thin trend line and the further lower supportive trend line.  A clear rebound from this trend line would mean we are continuing with the black wave [5]. The anticipated short positions should have targets at $1178, $1130 and $1105.  We will only be looking for long positions if the price closes above the think green trend line or upon a clear rebound from the middle thin trend line.

Trade Recommendations:

A clear rebound from the think green trend line would mean we will be  looking for short positions with targets at $1178, $1130 and $1105.  Only buy above the think green trendline with an ultimate target at $1383.

 

 

 

Silver weekly Review:

Gold, Silver, Oil Weekly Analysis


Weekly review:

During the previous trading week, silver market retraced upwards but could not close above the red restive trend line. Unless, the price can successfully close above this trend line, look for a possible rebound from this level. A bounce from this level would mean we are headed short with our ultimate target at the lower supportive trend line. Ideally, during this week, we expect the anticipated downward rally to be the unfolding of wave (5) towards the lower trendline.  We will however, remain short as long as Gold remains bearish. These commodities have a strong positive correlation of up to +0.94 and are thus expected to have a similar price action. Only buy upon a clear break out above the red trend line with your ultimate $17.45.

Trade Recommendations:

During this week, as long as the gold remain bearish and Silver trades below the red resistive trendline, look for short positions with an ultimate targets at $14.37, and $13.77.

 

 

Oil weekly Review:

Gold, Silver, Oil Weekly Analysis

Weekly review:

During the previous trading week, crude oil broke above the resistant level 33.93 and is still bullish. As long as Oil trades above this key level, look for long positions with an ultimate target at 47.03. During this week, we will remain long with our target at 47.03.  Ideally, we expect the anticipated upward rally to be the unfolding of wave (4) with an ultimate target at the upper resistive trend line. Short positions are only ideal upon a clear rebound from 47.03 or below 33.93.

Trade Recommendations:

During this week, as long as the pair trades above 33.93, look for long positions with an ultimate target at the upper resistive trend line at 47.03.

 

Graham Osano
Agree with the review?
Traders' opinion:

We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us

Tell us

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 .