German stocks index set to take an upward rally

German Stock's Index Weekly Review:

Wave Analysis:

During the previous month, German stock;s index opened at 12355.6 , went as high as 12474.4  and as low as 11696.6  but ended up closing at 12131.3 , just a few pips below it's opening price.  The previous month's candle is a prefect bullish pin bar candle closing above a key support level 11925.5. This is a potential buy signal, and as long as the price remains above 11925.5, we expect a possible bullish price rally and may break above 13498.0 towards 14025.00. The anticipated bullish price rally will be the continuation of the impulsive wave (5) to the upper side with an ultimate target at 14025.00.

Trade Recommendations:

Look for potential long positions with an ultimate target at 14026.0.

 

Gold Weekly Review:

Wave Analysis 

Perfectly as previously as forecasted,  Gold markets attempted a break above the upper trend line  but ended up below it. This is perfectly inline with the previous week's candle, and as long as the price remains below this trend line, we expect a possible bearish price rally to the lower side and may break below the lower trend line towards 1267. The anticipated bearish price rally is highly anticipated since on the monthly chart, gold has just rebounded from a monthly resistance level 1358.51, and as long as the price remains below it, we expect a momentum to the lower side.

Trade Recommendations:

Remain short with your first target along the lower trendline and the next target at 1261.

Hang Seng Index  Weekly review


Wave Analysis:

During the previous week, Hang Seng Index opened at  30169 went as high as  30927 and as low as 29764  but ended up closing at 30186, just a few pips below it's opening price. The previous week's candle is a perfect indecision candle around a key level 30069. Previously, we expected a possible extension of the corrective wave (4) towards 28564 to buy the next impulsive wave (5), however, as it appears, this index could rise from somewhere around 30069, towards 33854. The upward rally is highly anticipated however, should the price break below 30069, then we expect a decline towards 28564, which is a potential buy place.

Trade Recommendations:

Look for a potential buy towards 33854.

 

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Graham Osano
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