Buy Spanish index Towards 11705.00
Following the gap above the retracement zone 10624.1-10435.8, the Spanish index retraced back to this zone but got rejected and is currently rallying to the upper side. Unless there’s a clear bearish breach below this zone especially below 10435.8, I expect a bullish move towards 11705.00. On the daily chart above, I choose to remain long with the long position opened during the previous week. My advice remain long towards 11705.00.
Long IBEX35towards 11705.0.
Sell ASX around 5969.7
Since December 5th 2016, #ASX entered into a consolidation only rallying with the ascending wedge. On May 2nd this year, this index got rejected from the upper trend line acting as the top of this wedge. I expected a bearish rally towards the lower trend line but as it appears, this index could rise towards 5969.7 before heading short. Thus, the best place to long #ASX is upon a breakout above 5995.3 or upon a clear rejection from the lower trend line.
Long #ASX above 5995.3 towards 6200.00
For the past three weeks, silver has dropped almost 3000 pips but is currently rallying around a key demand zone 22.15-21.77. Unless there’s a clear bearish breach below this support zone, I expect a clear rejection from this zone to long silver towards 24.08. A clear breakout below this zone will mean waiting for as retracement to the just broken zone to sell silver towards 19.54