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SPX500 still to Rise

Barclays Bank Weekly Review

Wave Analysis:

During the previous trading week,  Barclays bank shares closed just a few points below its opening price for the week. We're still along our sellers territory and as long as the price does not break above 11.26, we expect a possible bearish momentum.  This week and in the next few days, we expect decline in price with our first target at 10.35 and the next target at 7.75. If the price breakout above 11.76, then we'll wait for a pullback to the just broken level to pick a long position with the first target at 16.20 and the next target at 16.20.

Trade Recommendation:

We're still bearish below 11.76 with an ultimate target at 8.40.

 SPX500 weekly review:

Wave Analysis:

For almost a decade now, this index has been rising and is still pretty much bullish on both the higher and the lesser time frames.   During this intraday and in the next few days, we expect a possible momentum to the upper side and should break above 2938.0 towards 3000.00. The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upper side, and in case it break above 3000.00, then further momentum to the upper side is expect. At the moment, only long positions are recommended with an ultimate target at 3000.00.

Trade Recommendation:

We're long with an ultimate target at 3000.00.

 Gold weekly Review

Wave Analysis:

During the previous trading day, Gold markets dropped drastically and even went below the weekly opening price. This is perfectly in line with what we forecasted last week, we still expect further momentum to the lower side and should break below 1094.010 even lower. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lower side but should not go beyond the monthly support seen at 717.00-679.68. As long as the price is below the monthly support zone 1349.22-1320.47, we're within our sellers territory and we're looking for short positions.

Trade Recommendations:

We're short with an ultimate target at 717.00

 

 

 

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Graham Osano
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