Gold Weekly Review
Wave Analysis
Last week, Gold rallied to the lowerside and even attempted to break below the previous week's lowest low, but ended up closing above it. As it is now, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of an impulsive wave count and could see the price breakout above 1938.45 towards 2000.00 and may extend much higher. If you are looking at this chart right now, keep looking for long term buy positions expecting a possible rally with our target set at 2000.00.
Trade Recommendations:
We're buyers towards 2000.00.
Silver Weekly Review
Wave Analysis
During the previous trading day, nothing much happened on silver. As it is on the weekly charts, we are expecting a possible breakout above 28.928 to push the price much higher with the next ideal target set around 30.000 and could breakout much higher. The anticipated bullish price rally is the continuation of the last impulsive wave (v) to the upperside and should breakout much higher with the next ideal target set around 35. If the price fails to break above 28.928, then a rebound from the same level will push the price much lower with the next ideal target set at 22.683.
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