Main >
Analytics
>
Fresh forecast
>
Elliott waves analysis
>
Gold, Silver, Oil Weekly Analysis

Gold, Silver, Oil Weekly Analysis | 08 July 2016

Gold Weekly Review:

Gold, Silver, Oil Weekly Analysis

Weekly review:
 
During the previous week ending 1st July 2016, Gold markets traded perfectly long as previously forecasted and is still pretty much bullish. During this week, we expect a possible bullish price rally towards $1383 or even higher. In the mean time, we expect downward retracements towards $1320 to give us low risk buy opportunities. This view remains valid as long as the pair trades above $1320, a clear breakout below this level will culminate into a possible reversal to the lower side. This Commodity should be traded alongside Silver. These commodities have a strong positive correlation of up to +0.96 and will have a similar price action during this week

Trade Recommendations:

Expect a possible bullish price movements toward $1383 upon a clear downward retracements towards $1320.

Silver Weekly Review:

Gold, Silver, Oil Weekly Analysis

Weekly review:
During the previous week ending 1st July 2016, Silver markets traded perfectly long as previously forecasted and is still pretty much bullish. During this week, we expect a possible bullish price rally towards $21.41 or even higher. Earlier this week, we expect downward retracements towards $19.48 to give us low risk buy opportunities. This view remains valid as long as the pair trades above $17.79, a clear breakout below this level will lead to a possible reversal to the lower side. This Commodity should be traded alongside Gold. These commodities have a strong positive correlation of up to +0.96 and will have a similar price action during this week. Ideally, gold drags Silver along with it
Trade Recommendations

Expect a possible bullish price movements toward $21.41 or even higher.

Oil Weekly Review:

Gold, Silver, Oil Weekly Analysis

Weekly review:
 
During the previous week ending 1st July 2016, Oil markets traded short during the earlier parts of the week, before going massively long. The previous week's candle is pretty much bullish and may lead to further upward movements but should not go beyond $52.44. A breakout above this target will lead to further momentum to the upper side. In the meantime, we are waiting for a minor downward pullback towards $47.78 to give us low risk buy opportunities.

Trade Recommendations:

Remain long with your ideal target at $52.44

Bob Stan
Agree with the review?
Traders' opinion:

Close
Login

Show password

Hide password

 Forgot password?
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 .

Our best awards:

FreshForex is a brand that provides access to online trading for clients from more than 158 countries all over the world. The Company's partners are the licensed European liquidity providers, banks, payment aggregators and systems with which the company has been cooperating for more than 19 years.
Clients must be at least 18 years old to use the services of the Company.
The company does not provide services in the following countries.
Risk Warning: Trading financial instruments with leverage carries high risks and can result in both profits and losses. Potential losses are limited by the deposit amount. Before deciding to trade, the client should assess their risk tolerance, experience, and knowledge level.

Freshforex.com uses cookies for better website operation, traffic flow analysis, and personalization. By using this website you agree to our Cookie Policy.
User Data privacy is protected in accordance with GDPR. The SSL certificate installed on the website transfers the information over a secure protocol.
The site contains links to websites of third parties. The Company does not check or control the third-party resources that are in any way related to the FreshForex site, so the Company is not responsible for any third-party information or materials posted.
By creating a link to a third party website, the Company does not endorse or recommend any products or services offered by the third party.
The website content is intended for informational purposes only. It should not be regarded as an offer or solicitation to any person in any jurisdiction in which such an offer or solicitation is not authorized. It also should not be considered as an offer/solicitation to any person to whom it would be unlawful to make such an offer or solicitation, nor regarded as a recommendation to buy, sell or otherwise deal with any particular currency or any other trading asset investment. If you are not sure about your local trading regulations, please, leave this website immediately.
© 2004—2024 FreshForex – Forex broker
Reproduction of the contents is allowed only with active hyperlink to original source.
Riston Capital Ltd (20623 BC 2012) with registered address at Suite 305, Griffith Corporate Centre, Beachmont, P.O. Box 1510, Kingstown, Saint Vincent and the Grenadines.