Gold Weekly Review
Wave Analysis
During the previous week, Gold markets rallied massively to the upper side and even established a new high of 1984.52. Following the break above the all time high. 1920.20, we expect nothing but a possible momentum to the upper side, As it is now, we are looking for possible long term buy positions towards 1990.0 or even higher. While the price is held above the two simple moving averages, we expect nothing but a possible momentum to the upper side towards 1990. A break below the supportive trend line will push the price to the lower side.
Trade Recommendations:
Wait
SPX500 Weekly Review
Wave Analysis
Last month, SPX500 continued to the upper side and even went above the highest close so far. While the price is held above 3228.0, we expect nothing but a possible momentum to the upper side. The anticipated bullish price rally is the continuation of the impulsive wave (v) to the upper side and should break above 3453.0 or even higher. On the other side, should the price correct itself to the lower side, then a break below the lower red line will mean we are continuing to the lower side.
Trade Recommendations:
Remain long towards 3453.0.
Dow Jones Weekly Review
Wave Analysis
Dow Jones successfully closed above the two simple moving averages attached. While the price continues to remain above these ma's we expect nothing but a possible momentum to the upper side, the anticipated bullish price rally is continuation of the impulsive wave (v) to the upper side and should break above 29162 towards 30000.00 or even higher. If the price breaks and closes below the red moving average, then this may be a possible sign of a move to the lower side.
Trade Recommendations:
Remain long towards 29162.
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