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Gold still depreciating

Gold weeklly review

Gold still depreciating

Wave Analysis

During the previous weeks, after a break below the weekly support level 1203.19, Gold markets pulled back to the same level but failed to breakout above it, as long as the price remains below 1203.19, we expect a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of an impulsive wave count and should break below 11115.85. This view can only be invalidated in case the  price breaks above 1203.19, if this is the case, then further rally to the upperside is expected.

Trade Recommendations:

We're short from 1203.19.

 Gas Weekly Review

Gold still depreciating

Wave Analysis

Since two weeks ago, Gas markets attempted a breakout above the upper trendline but could not breakout higher. As long as the price remains below this  trendline, we expect a possible bearish rally but should not go below the weekly support level 2.567. You could still look for short positions now, and have your take profit at 2.567. This view can only be invalidated in case the price breaks above the upper trendline, if this is the case, the further bullish rally towards 3.300 is expected.

Trade Recommendations:

we're looking for a short position towards 2.567.

SPX500 weekly review

Gold still depreciating

Wave Analysis

For sometimes now, the impulsive wave (5) extended significantly to the upperside and is still pretty much bullish both on the daily and the weekly charts. According to the daily chart above, we're waiting for a clear breakout above 2875.9 to pick  along term long position with an ultimate target at 3000.00. If you're not long already, you could wait for a clear breakout above 2875.9 to pick a long position.  This view can only be invalidated in case the price rebounds from 2875.9, if this is the case, then a rally downwards is expected.

Trade Recommendations:

we're long above 2875.9

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Graham Osano
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