Gas weekly Review
Wave Analysis
Few days ago, the impulsive five wave cycle continued significantly to the lower side as long as the price remains within the declining channel formation, we expect nothing but a possible momentum to the lower side. The anticipated bearish price rally is the continuation of the impulsive wave (v) to the lower side and should break below 2.005 towards 1. 9584. The idea is not to look for a sell positions now, rather, wait for a pullback to the upper trend line that we will consider for a possible sell order towards 1.9542.
Trade Recommendations:
Sell a pullback towards the upper trend line.
Brent Oil Weekly Review
Wave Analysis
Brent oil is currently in an active up trend, During the previous trading week, both the impulsive waves (v) and the minor impulsive wave continued to the upper side and is still pretty mu8ch bullish. If the price can breakout above the previous week’s highest high, then this will push the price massively even higher towards 67.60. But on the flipside, should the price break and close below Friday’s lowest low, then this will give us the best place to pick a long term sell order towards 64.60 towards 62.60.
Trade Recommendations:
Buy Brent oil with your take profit at 67.80.
Gold weekly Review
Wave Analysis
During the previous trading week, the impulsive wave 5 continued massively to the upper side and is still pretty much bullish both on the daily and on the weekly chart. As long as the price remains above the upper trendline, we expect nothing but 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 1561.87 and could continue even higher. This view can only be invalidated in case the price breaks and close below Friday’s lowest low, if this is the case, then further momentum to the lower side is expected.
Trade Recommendations:
Remain long with an ultimate target at 1561.87.
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