German Stock Index Weekly Review
Wave Analysis
Following last month's pin bar, German stock's index has been in a constant up trend and is still pretty much bullish both on the weekly and the monthly charts. As long as the price remains above 12126.5, we expect a possible momentum to the upper side. The anticipated upward rally is will be the continuation of the impulsive wave (5) to the upper side and should go beyond 15213.00. This view can only be invalidated in case the price breaks below 12126.5, if this is the case, then we'll expect a possible momentum towards 9553.5.
Trade Recommendations:
Expect a possible momentum towards 15000.00 or even higher.
SPX500 weekly Review
Wave Analysis
For almost two decades now, SPX500 has been in constant up trend and is still pretty much bullish on the monthly chart. In the recent past, we've seen a massive correction of this index but the price failed to go below 2591.5. As long as the price remains above this level, we expect this level, 2591.5, to have marked the end of the corrective wave (4), that the current movements to the upper side is the unfolding of the impulsive wave (5) to the upper side with the next ideal target being 2977.00. This view will only be rendered futile in case the price breaks below 2591.5, this being the case, we'll expect a possible momentum to the lower side.
Trade Recommendations.
Look for a long position with an ideal target at 2977.0.
Gold Weekly Review
Wave Analysis
Gold continues to rally around 1330.40 despite the previous forecasts that it should plunge to the lowerside. As long as the price is contained below 1330.40, we expect a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lowerside and should break below 977.73 towards 677.35 or even lower. This view will only be rendered futile in case the price breaks above 1393.84, this being the case, we'll expect a possible momentum to the upperside towards 1866.45.
Trade Recommendations:
Look for a short position with an ultimate target at 977.73
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