Gold Weekly Review
Wave Analysis
Gold continues to remains within the zone 1792.54 and the lower trendline, while we continue to see price within this range, we're only interested in trading reversals. Our idea is to wait for a rebound from 1792.54 to pick a sell position or a bounce from the lower trendline to pick a buy position. A break above 1792.54 will push the price to the upperside with an ultimate target set along the upper trendline. A breakout above the upper trendline will push the price much higher towards 2080.80.
Trade Recommendations:
Wait
WTI weekly Review
Wave Analysis
Last last week, the price rallied to the lowerside and even broke below 59.31. As long as the price remains below the zone 59.31, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of a corrective wave count and should break below 54.55 towards 50.25. A breakout below this level will continue much lower. On the flip side, should the price break above 59.31, then we may see a buy towards 67.45 and could breakout much higher.
Trade Recommendations:
Expect a possible long term sell position towards 50.25
Wave Analysis
Natural gas remains within a range, not going above 3.060 or below 2.418. While we're within this range, we are only interested in reversals. A bounce from 2.418 and a below 3.060. A rebound from the lower suppory will attract a buy and a bounce from the level 3.060 to pick a sell. A breakout below 2.418 will attract a possible long term sell position with an ultimate target at 1.880. A break below this level will push the price much lower with the next ideal target set around 1.490.
Trade Recommendations:
Wait
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