SPX500 Weekly Review
SP500 is currently exhibiting a strong bearish trend. The market is currently undergoing a corrective phase, specifically an ABC corrective pattern. Our projection is for the market to decline, reaching at least 4335.5. Please be aware that this zone aligns with our target for the minor wave 'c'. It's important to emphasize that a reversal and break above 4538.1 would invalidate this setup. To potentially capitalize on this bearish movement, you might consider establishing a short position, targeting the range of 4366.5 to 4329.4. Be sure to implement proper risk management.
Trade Recommendations:
We're short for now
Gold Weekly Review
XAUUSD is currently displaying strong bullish momentum. The market is currently within a corrective phase, specifically the ABC corrective pattern. At present, the market position corresponds to the minor corrective wave 'b', standing at 1941.18. Our projection is for an upward movement from this zone, reaching at least 1952.76. To potentially benefit from this anticipated rise, you might consider initiating a long position now, setting your take profit at 1952.76. It's important to be aware that a breach below 1938.87 would invalidate this setup. Remember to implement proper risk management to safeguard your trading.
Trade Recommendations:
Waiting to buy gold
Silver Weekly Review
XAGUSD is currently undergoing a corrective phase following the completion of the impulsive 'V' wave pattern. The market's current position aligns with the minor corrective wave 'b' at 23.576. Our outlook for the upcoming week is bullish, with a target set at 24.433. Within this zone, we anticipate a market movement that corresponds to our minor corrective wave 'C'. If you're considering trading, you might contemplate entering long positions at 23.659, with a profit target set at 24.433. Use proper risk management.
Trade Recommendations:
We're short
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