Gold Weekly Review
Wave Analysis
Earlier this week, Gold gaped above the upper trendline and is still pretty much bullish. While we continue to see sustenance above this trendline, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the continuation of the impulsive wave (v) to the upperside and should breakout beyond 1930.80. If you are looking at this chart now, keep looking for long term buy positions expecting price to break beyond 1930.80 towards 1980.00.
Trade Recommendations:
Remain long towards 1980.0.
Dow Jones Weekly Review
Wave Analysis
After consolidating for close to a month, Dow stated this year by gaping above the upper trendline. As long as the price remains above this trendline, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (v) to the upperside and should breakout above 30873 towards 30900 or even higher. If the price breaks and closes below the lower blue Alligator line, then we will expect a possible rally towards 29998.
Trade Recommendations:
Buy Dow towards 30873.
Silver Weekly Review
Wave Analysis
During the previous trading month, Silver rallied to the upperside and is still pretty much bullish. As long as the price remains above the Alligator indicator we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upperside and should breakout above 27.560 towards 30.00 or even higher. As it is now, only buy positions looks ideal and can safely be recommended. But in case of a break below the blue line, then a sell is recommended.
Trade Recommendations:
Remain long.
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