Weekly Review

NQ100 Weekly Review 

Wave Analysis

During the previous trading week, the corrective three wave cycle continued to the lower side but could not go beyond the 4 hour support level 8920.0. We are waiting for a clear sign that the corrective wave (b) is ended so that we sell the last impulsive wave (c) towards 8920.0. If the price breaks and closes below this level, then further momentum to the lower side is expected towards 8644.0. This view can only be invalidated in case the price breaks and closes above 9740.0, if this is the case, then further momentum to the upper side is expected.

Trade Recommendations:

Waiting for a low risk sell position.

ASX Weekly Review

Wave Analysis

Just as previously forecasted, ASX continued to the lowerside and is still pretty much bearish both on the daily and on the weekly charts. We expect the current bearish price rally is the continuation of a corrective wave count and could see the price break below 6877.0. If the price breaks and closes below this level, then further momentum to the lowerside is expected. This view can only be invalidated in case the price breaks and closes above 7178.5, if this is the case, then further momentum to the upperside is expected towards 7228.0.

Trade Recommendations:

Remain short towards 6877.0.

WTI Weekly Review

Wave Analysis

Few weeks ago, WTI bounce off from 54.430 and is currently heading to the lowerside, we expect this bounce to be the end of both the corrective wave (iv) and the corrective three wave cycle and could push the price to the lowerside. We expect the current bearish price rally to be the continuation of the impulsive wave (v)  and could break below 50.110 towards 47.950. This view can only be invalidated in case the price breaks and closes above the level 54.430, if this is the case, then a move to the upperside is expected.

Trade Recommendations:

Sell WTI towards 50.110.

Graham Osano
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