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Weekly Review

Weekly Review | 12 March 2021

SPX500 Weekly Review

Weekly Review

 Wave Analysis

During the previous trading week, SPX500 bounced off from the supportive trendline but failed to move to the upper side as previously expected. On this chart, we expect nothing but a possible momentum to the upperside. The Anticipated bullish price rally is the continuation of the last impulsive wave V to the upper side and should break above 3962.3 towards 4000.00 or even higher. If the price breaks below the lower trendline, then this will be the onset of a possible bearish correction but should not break below 3598.8 where we'll be looking for a buy position.

Trade Recommendations

Look for long-term buy positions.

Silver Weekly Review
Weekly Review
 
Wave analysis
A few days ago, Silver rallied massively to the upperside but failed to break above 28.894. This is a key resistance level and while the price does not clearly break and close above it, we are expecting a possible sell from this level. And the fact that the last impulsive wave (5) failed to break above 28.894 is a clear sign that this is a good place to consider a possible sell from. A breakout above this level will mean we are continuing to the upper side with our next target set at 35.00. A rebound from 28.894 will mean we are sellers with an ultimate target of 22.679.
Trade Recommendations:
Watch for possible sell positions towards 22.679
NQ100 weekly review
Weekly Review
Wave Analysis
Last week, NQ100 corrected itself to the lower side and is still pretty much bearish both on the daily and on the weekly charts. On this chart, this week and possibly during the previous week, we are expecting a further decline in price. The anticipated bearish price rally is the continuation of the last impulsive wave (c) to the lower side and could break below. This view will only be invalidated in case the price again breaks and closes above the previous month's highest high, if this is the case, then further momentum to the upper side is expected.
Trade Recommendations:
Wait
Bob Stan
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