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Gold, Silver, Oil Weekly Analysis

Gold, Silver, Oil Weekly Analysis | 15 July 2016

Gold, Silver, Oil Weekly Analysis
Weekly Review:
 
During The previous trading week ending 8th July 2016, Gold markets traded long as previously forecasted and is still pretty much bullish. During this intraday, we expect a possible bullish price movements towards 1383 and may even  break above it towards 1431. In the meantime, we wait for retracements to the lowerside to give us low is buy opportunities. This commodity should be traded alongside Silver. Silver and Gold are strongly positive correlated and will have a similar price action during this week.

Trade Recommendations:

Expect a possible price movements towards 1431 or even high.


Silver weekly Review

Gold, Silver, Oil Weekly Analysis

Weekly Review

During The previous trading week ending 8th July 2016, Silver markets traded long as previously forecasted and is still pretty much bullish. During this intraday, we expect further rally to the upperside but should not close above 22.22. In the meantime, we wait for retracements to the lowerside, towards 19.36 to give us low risk buy opportunities. This commodity should be traded alongside Gold. Gold and Silver have a strong positive correlation of up to +0.95 and will have a similar price action during this week.

Trade Recommendations:

Expect a possible bullish price rally towards 22.22.

Oil weekly Review

Gold, Silver, Oil Weekly Analysis

Weekly Review:

During the previous trading week ending 8th July 2016, instead of going long as previously forecasted,  oil markets traded short and is still pretty much bearish. During this week, we expect a possible bearish price rally towards 42.61. Ideally, wave (c) should close around 42.61 or even below. In the meantime, we wait for an upward pullback towards 19.36 to give us low risk sell opportunities. Brent Crude oil should be traded alongside West Texas Oil. These two related 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 bearish price movements towards 42.61.

 

Bob Stan
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