SPX500 is currently rallying to the upperside. As long as the price remains above the lower trendline, we are looking for a possible rally to the upperside towards the upper trendline.
If you are looking at this chart right now, you should keep looking for low risk buy positions with the next ideal target along the upper trendline. The idea here is to watch for possible buy positions.
Trade Recommendations:
We're buyers towards the upper trendline.
Brent oil weekly review:
Wave Analysis:
As long as the price remains within the converging wedge formation. As long as the price remains above the lower trendline, I am looking for a possible buy position towards the upper trendline. If the price breaks below lower trendline, then further momentum to the lower side is expected towards the level 85.63 and could breakout much lower.
Trade Recommendation:
wait and buy a bounce from the lower trendline.
GazpromNef Weekly Review:
During the previous trading week, gold rallied to the lowerside and is currently approaching the support level 349.14. As long as the price remains above this level, we are watching a rebound from around the same area to pick a possible long term buy position with an ultimate target set around 549.55 and may likely break and close above it.
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