CAC40 Weekly Review
Wave Analysis
After establishing a support around 3625.5, the French Stock's index pulled back to the upper side and is still pretty much bullish both on the daily and on the weekly charts. Currently the price is within a contracting wedge formation, we expect the recent bounce from the supportive trend line to be the continuation of the impulsive wave (c) to the upper side and could break beyond the upper trend line towards 5083.5. This view can only be invalidated in case the price breaks and closes below the lower trendline, if this is the case, then further momentum to the lower side is expected.
Trade Recommendations:
Remain long towards the upper trendline.
Gold Weekly Review
Wave Analysis
Gold is currently in an active up trend. While the price is held above the Alligator indicator attached, 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 break beyond 1771.80 towards 1800.00 or even higher. If you are on this chart now, keep looking for low risk buy position with your target around 2000.0. This view can only be invalidated in case the price breaks and close below the blue alligator line, if this is the case, then further momentum to the lower side is expected.
Trade Recommendations:
Look for low risk buy positions with your target around 2000.00.
SPX500 weekly review
Wave Analysis
During the previous week, nothing much happened on this index, we expected a bounce break beyond the upper trendline but that did not happen, instead the price pulled back few points and has now gone back to the same trendline,while the price is not able to break and close beyond the upper trendline, we remain on the side lines, but should the price break and close above this trendline, then we expect a possible continuation to the upperside with an ultimate target around 3000.00 and could breakout much higher. As it is now, sell positions looks a bit risky and may not be recommended.
Trade Recommendations:
Buy a break above the upper trendline towards 3000.00.
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