Gold Weekly Review:
It's barely seven days to the end of of the month, and instead of declining in value as previously expected, Gold market is steadily pulling back to the upper side, this yellow metal however is still within the contracting wedge formation and should turn bearish anytime from now. Ideally, we expect the close along the upper trend line to have marked the end of the immediate corrective three wave cycle, that as long as this trend line is not broken to the upper side with a big green candle, we expect a possible bearish price rally towards 1309.40.
Sell the yellow metal now towards 1309.40.
German Stock Index Weekly Review
For almost two months in a raw now, German stocks index has been on a crashing mode. Last week, it even closed below a key weekly support seen at 12226.0. As long as the price remains below this level, we expect further crash but should not go below 11053.5. A clear break below may push the price massively to the lower side with the next target at 9286. The anticipated bearish price rally will be the continuation of a corrective three wave cycle and should not go beyond the end of the first impulsive wave (1), 8113.5.
Remain short with an ideal target at 9286.0.
Hang Seng Stock Index weekly Review
On the weekly chart attached, a key resistance zone was established at 28564.0-28269.0. However, recently, the price broke out above it, and is still way above it. Last week, HSI traded massively to the lower side and is still pretty much bearish both on the weekly and the monthly charts. This week and possible in the coming week, we expect a possible extension of the corrective wave (4) to the lower side but should not go below the now weekly support seen at 28564-28269. If you're not short already, you could wait for a clear buy from this support. The anticipated bullish price rally will be the continuation of the impulsive wave (5) to the upper side and may extend beyond 33134.
Remain short with an ultimate target at 28564