German Stock Index Weekly Review
During this month, German Stocks Index opened around 11,925.0, and instead of rallying lower, the price pulled back upwards and is currently showing signs of rising on the weekly charts. As long as the price remains above the monthly support level 11,925.0, we expect a possible momentum to the upper side, The anticipated bullish price rally is the continuation of the impulsive wave (5) and should break above the monthly resistance level 13,498.0 further upwards. This view can only be rendered futile in case the price breaks below 11, 925.00, this being the case, we'll expect a possible rally to the lower side.
Remain long with your target at 13, 498.0.
Hang Seng Index Weekly Review
Perfectly as expected last week, Hang Seng Index, opened at 29902.0 went as low as 29141.2 and as high as 30306.2 but ended up closing at 30106.0 just a few pips above its opening price. The previous week's candle is a perfect bullish pin bar candle above a key level 30018.9, as long as the price remains above this level, we expect a possible momentum to the upper side. The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upper side and should break above 33459.0 to the upper side.
Wait for a pullback to last week's opening price to long HSI towards 33459.0.
Gold weekly Review
Earlier this year, Gold markets rallied higher, hit the highs of 1365.32 before taking off to the lower side. Since then, the price has tried rallying back to the same level but in vain. As long as the price remains below 1365.32, and most importantly below the upper resistive trend line, we expect a possible momentum to the lower side. At the moment, we expect a possible momentum to the upper side, towards the upper trend line to short this metal with our target being along the lower trend line. If you're not short already, you could wait for a rebound from the upper trendline to short this metal at the least risk possible.
Wait for a rebound along the upper trendline to short Gold with a target along the lower trendline