Brent Oil Weekly Review
Wave Analysis
Last week, Brent Oil rallied massively to the upperside but could not breakout above the zone 43.603-43.801. While the price remains below this zone, we are expecting a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of a bearish wave count and could see price breakout below 39.087. This view remains true as long as the price is held below 43.603. In case the price breaks above the zone 43.603-43.801, then we will be looking for a possible buy position towards 46.476.
Trade Recommendations:
Wait for a sell from 43.801 with your target at 39.087.
#ASX Weekly Review
Wave Analysis
Last week, the Australian index rallied massively to the upperside and even went above the zone 6176.2-6146.1. As long as the price remains above this zone, we are looking for nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (E) to the upperside and should break beyond 6269.5 towards 6300.00. This view can only be invalidated in case the price breaks and closes below 6146.1, if this is the case, then we will be looking for long term sell positions towards 5812.2.
Trade Recommendations:
Look for long term buy positions towards 6300.00.
Gold Weekly Review
Wave Analysis
Last week, Gold markets bounced off from the resistance trendline, headed straight to the lowerside and is still pretty much bearish. If you are looking at this chart now, keep looking for long term sell positions. And in case the price breaks above the immediate trendline, then we will be looking for a possible sell from the upper trendline. A breakout above these two trendline will push the price massively to the upperside with an ultimate target fixed around 2065.21. On its way upwards, the key level to look for is 1978.00.
Trade Recommendations:
Sell a bounce from the upper trendline with your target at 1859.35.
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