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Gold, Silver, Oil Weekly Analysis

Gold weekly Review

Gold, Silver, Oil Weekly Analysis

 

Weekly Review
 
During the previous trading day, Gold markets rebounded from the upper thick green trend line and even broke below the next thin trend line. During this week, we expect to continue short with our ultimate target along the middle supportive trend line. Ideally, during the course of the coming month, we expect complete wave (a), and to begin wave (b). the anticipated downward movements is highly anticipated since the intraday stochastic has just crpssed below  the 80 mark and is headed towards the 50 level. We will thus be looking to take our profits when the stochastic hits the 50th level.

Trade Recommendations:

During this week, expect the price to trade short with an ultimate target along the middle trend line. The anticipated short positions should have targets at 1187, 1126, 1074 and the middle trend line.

Silver weekly Review

Gold, Silver, Oil Weekly Analysis

Weekly Review:

During the previous trading week,  Silver bounced off from the red middle trend line and is currently headed short. As previously forecasted, we expect the pair to continue short with our target along the lower supportive trend line. Ideally, the trend line should mark the end of the black wave [5] and to signal the beginning of the larger green wave [4]. we will wait for a clear close below 14.66 to mark the continuation of the downward rally with our next target at 13.77, a break below 13.77 will mean we are headed further short with our ultimate target along the lower supportive trend line. We will however remain short only as as long as the intraday stochastic remains bearish and trades below the 80th level. If the stochastic break above the 80 level, then we will take our profits and look for potential buy levels.

Trade Recommendations.

During this week, expect silver markets to trade in the lower ranges. the anticipated sell orders should have targets at 14.66.  A break below this level will mean we are headed further short our next target at 13.77, a break below 13.77 will mean we are headed further short with our ultimate target along the lower supportive trend line.

Oil weekly Review

Gold, Silver, Oil Weekly Analysis

Weekly Review:
 
During the previous trading week, oil markets traded long but is yet to reach our target of the upper resistive trend line. During this week, we wait for minor downward retracement towards 38.00 to go long with our ultimate target at 47.03. If the anticipated pullback goes below 33.93, then we will be looking for short positions with our targets at 26.25, and the next target along the lower supportive trend line. However, as long as the commodity trades above 40.53, we are long with wave 4 with our target at 47.03.

Trade Recommendations:

Wait for minor pullback towards 38.00 to go long with your ultimate target at 47.03. If the anticipated pullback goes below 33.93, then we will be looking for short positions with our targets at 26.25, and the next target along the lower supportive trend line

 
Graham Osano
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