Silver Weekly Review
Technical Observation
Silver continues to rally above the zone 27.584-27.464. While the price remains above this zone, we are on the sidelines, we are waiting for a clear touch and a rebound from this zone to pick a low risk buy position with our target set around 26.660. If the price breaks and closes above this target then we will be looking for further rally to the upperside is expected with our ideal take profit at 30.00. On the otherside, should the price break below 27.464 then we will be looking for sell positions:
Trade Recommendations
Wait
ASX weekly Review
Technical Analysis
Although ASX is currently in an active up trend, we are currently not seeing any signs of a break above 7137.6. As it is now, we want to see a clear breakout above 7137.6 to confirm that we are continuing to the upper side with an ideal target set at 7200.00 and may extend much higher. On the other side, should the price break below 6926.2, then this will be a good place to consider a possible long term sell position with an ideal target set at 6665.0. A break below this level will push the price much lower.
Trade Recommendations:
Wait and buy a break above 7137.6 towards 7200.00.
IBEX35 Weekly review
Technical Observation
IBEX35 is currently in an active up trend. While the price remains above the Alligator indicator, we expect nothing but a possible rally to the upperside. The idea is to wait for a pullback towards 50.0% fib level or 61.8% fib level to pick a low risk buy position towards 9257.5. And in case the price breaks below 50.0% fib level, then we will be looking for low risk sell positions with our target set at 8463.4. A break below this level will push the price much lower towards 7743.2 and may extend much lower.
Trade Recommendations:
Wait for a rebuy from 50.0% fib level towards 9257.5.
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