GazProm Weekly Review
After a rise to the upper side, the impulsive wave (b) could not break above 136.30, rather, it rebounded from this level. Last week, Gazprom corrected itself to the lower side and is still above the supportive zone 131.47-130.61. As long as the price remains above this zone, we expect a possible bullish price rally but should not go beyond the resistance level 148.08. The anticipated bullish price rally is the continuation of the impulsive wave (c) and should be extensive in nature. This view can only be invalidated in case the price break below 130.61, if this is the case, the a drop towards 113.55 is expected.
Buy Gazprom now with an ultimate target at 148.08
IBEX35 Weekly Review
After a first failed attempt to break above the descending channel formation, IBEX35 broke out above it again for the second time. As long as the price remains above the upper trend line acting as the resistance to the descending channel, we expect a possible bullish price movements towards 10715.0-10677.2 or even higher. The anticipated bullish price rally is the continuation of the corrective three wave cycle but should not go beyond daily resistance zone 10715.0-10677.2. If this zone is broken, then we’l wait for a pullback to the just broken zone to pick another long position with an ultimate target at 11256.6 This upward position is merely the continuation of the impulsive wave (C) towards 10715.8
Buy IBEX35 now with an ultimate target at 11256.6
Bitcoin Weekly Review
After a massive drop last week, Bitcoin is not showing any signs of rising in then near future. We still; expect further correction to the lower side but should not go beyond 7752. Technically, Bitcoin could drop to somewhere below 1000.0 before eventually picking an upwards movement, As we speak, this cryptocureny could continue bearish and therefore only short positions looks more ideal. If you’re not long or short already, it’s good to remain flat and wait for further bearish momentum then pick a long position around 9038.00 or even lower. Buy positions will only be recommended in case the price breakout above last week’s highest high.
Sell Bitcoin now towards 9038.00