Brent Oil Weekly Review
Wave Analysis
During the previous trading month, The Brent oil rallied to the upper side and is still pretty much bullish both on the daily and on the weekly charts. As it is right now, we are looking for long term buy positions. If the price break above 82.735, then this will be a good place to consider a possible long term buy positions with an ultimate target set around 97.679, a break above this level will push the price much higher towards 129.665.
Trade Recommendation.
Wait
SPX500 Weekly Review
Wave Analysis
During the previous week, the SPX500 rallied massively to the upperside and even went above the level 4557.8. Break above this level is a major move and as long as the price remains above this level, we expect nothing but a possible momentum to the upperside, the anticipated bullish price rally is the continuation of the last impulsive wave (v) to the upperside and should see the price break above 4600.90 towards 4700.00 or even higher.
Trade Recommendations:
We're buyers towards 4670.90.
Gold Weekly Review
Wave Analysis
After bouncing from the lower trendline, Gold rallied to the upperside but is still within the wedge formation, as it is right now, we are expecting further momentum to the upper trendline and may likely break above it. If the price breaks and closes above the upper trendline, then this will be a good place to consider a possible long term buy position with an ultimate target set around 1902.24 and may break much higher towards 2006.43.
Trade Recommendations:
We're buyers towards the upper trendline.
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