Gold weekly Analysis
Trade Recommendations:
As long as the yellow metal trades above 1160, long positions are recommended but with stops at 1175, and the next stop at 1180. In another scenario, any movements below 1146 will signal a reversal, thus we sell with stops at1132.37, and the next stop 1117.
Oil weekly analysis
During the previous week ending 10th October 2015, oil rose significantly following a bounce from a key pivot zone 44.20 and 4355, The commodity even crossed above a very key pivot level 48.10, and is currently trading above it. As long as the oil trades above this level, oil is expected to trade on the higher ranges.
Following the long upward movements, we are currently waiting for a minor pull back probably up to 48.43, before long positions can fully be recommended. Any clear movements below 47.19 will signal further movements to the lower side. In fact, if the latter is the case, then we expected further downward movements probably even below 43.55, with stops at 41.65, and the next stop at 38.01.
As long as oil trades above 49.42, long positions are ideal for trading, with stops at 50.58, and the next stops at 52.82. Any clear movements below 47.19, will signal further downward movements probably even below 43.55, with stops at 41.65, and the next stop at 38.01.
S&P 500 weekly review:
Trade recommendations:
As long as S & P 500 continues to trade above the upper trend line, long positions are recommended but with stops at 2020, and the next stop at 2036. Should it close below the upper trend line, the trend line will then be expected to become a significant resistant, thus pushing the price further downwards, the downward movements should have stops at 1965, and the next stop at 1899, and the last next stop at the support trend line, any movements below this trend line will signal further movements to the lower side
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