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Weekly Review

Weekly Review | 05 March 2021

Gold Weekly Review

Weekly Review 

Wave Analysis

During the previous week ending 5th of February, Gold rallied to the lower side and even went below the lower trendline. While the price remains below this trendline, we expect a possible surge to the lower side and should breakout below 1682.00 towards 1600.00 or even lower. And in case the price breaks above the immediate trendline, then we will be looking for a possible momentum to the upperside with an ultimate target set at 1829.65 and may breakout much higher.

Trade Recommendations:

Look for long term sell positions towards 1682.00,

SP500 weekly Review

Weekly Review

As it is now, SPX500 is rallying within an expanding wedge formation. We are waiting for a clear rebound from the lower trendline to pick a possible long-term buy position with our target around the upper trendline. If the price breaks and closes above the upper trendline, then further momentum to the upper side is expected with an ultimate target set at 4000.00 or even higher. And in case the price breaks and closes below the lower trendline then further momentum to the lower side is expected with an ultimate target set at 3726.00 or even lower.
Trade Recommendations:
Wait and buy a bounce from the lower trendline.
 
HSI Weekly Review
Weekly Review
Weekly Review
Hongkong Stocks index continues to correct itself on the lower side and is still pretty much bearish both on the daily and on the weekly charts. If you are looking at this chart now, keep looking for a long-term sell position expecting the price to break and close below 28251.00 with the next ideal target set at 27000.00 and could breakout much lower. On the flip side, should the price break above the recent swing high 31030.0, then this will be a good place consider a possible long-term buy position towards 32k and could breakout much higher.
 
Trade Recommendations:
Wait
Bob Stan
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