HSI Weekly Review
After breaking below 29228, Hong Kong Stock index rallied rapidly to the lowerside but ended up establishing a support around 28032. This is a key area even on the weekly chart. And as long as it contains the price above it, we expect a possible rally to the upperside. Ideally, we expect the rebound from this level to have marked an end to the corrective three wave cycle, that the current bullish price rally is the unfolding of another impulsive five wave cycle but should not go beyond 33002. If this target is broken, then the price will continue even higher towards 40k in the long run.
We’re long with an ideal target at 33002.
Gas weekly Review
During the previous week ending 6th July, Natural gas traded massively after bouncing from the upper trend line and is still pretty much bearish both on the daily and the weekly charts. As long as the price remains below this trendline, we expect a possible momentum to the lowerside. The anticipated bearish price rally should be an impulsive wave count but should not go below the supportive trendline. If this trend line is broken, then a momentum towards 1.720 or even lower is expected. We may only consider along position should the price break above the upper trendline.
We’re short towards the lower trend line.
Gold Weekly Review
During the previous week, gold markets traded rapidly to the lower side and even went below the immediate supportive trend line. As long as the price is below this trend line and also below 1348.65, we expect a possible momentum to the lower side. The anticipated bearish price rally is the unfolding of an impulsive five wave cycle and should go below 1067.75 but should not break below 611.20. According to the current chart set up and structure, we may only consider a long position should the price break above 1368.85. And even then, we will need a clear confirmation that we’re indeed on the upper side.
We’re short towards 1067.71
101% Double the volume
All bonus participates in drawdown!