Australian Stock's Index
Wave Analysis
During the late last week, ASX declined steeply and even reached the low of 5655.0. However, earlier today, the price gaped to the upper side and is still pretty much bullish on the 4 hours, on this chart, we're expecting a possible break above the previous week's highest high to confirm that we are upwards with an ultimate target around 5958.0 and could continue much higher. The idea is o wait for a possible 38.2% fib retracement or a 50.0% fib retracement to pick a low risk buy position with an ultimate target around 6000.00. A break below the 50.0% fib level could push the price much lower towards.
Trade Recommendations:
Re buy ASX from 5769.0 with your take profit at 5920.0.
Facebook Shares Review
Wave Analysis
During the week around 23rd April, Facebook shares rose above the 200 simple moving average and is still above the 200 Simple Moving Average, while the price is held above this Simple Moving Average, I expect nothing but a possible momentum to the upper side, the anticipated bullish price rally is the continuation of the impulsive wave (v) and should break above 239.10 towards 250.00 or even higher. We expect the current bearish price rally to be the continuation of a correction to the lower side but should not go beyond 203.70.
Trade Recommendations:
Remain long towards 300.00 or even higher.
NASDAQ 100 Weekly Review
Wave Analysis
Currently the price is several points above the 200 Simple moving average, while the price is held above this Moving average and the Green line of the ADX remains above the Red line, I expect nothing but a possible momentum to the upper side, the anticipated bullish price rally is the continuation of the impulsive wave (v) and should break above 9700.00 towards 10000.0 or even higher. The idea is to wait for a break above this year's highest high or a pullback towards the 200 simple moving average to pick a low risk buy position with a target around 9700.00.
Trade Recommendations:
Remain long towards 9700.00.
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