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Weekly Review

Weekly Review | 02 July 2021

Silver Weekly Review 

Wave Analysis
Silver is currently rallying within a minor range, within a contracting channel formation. If the price breaks out above the upper trendline, then this will push the price much higher. And if the price rebound from the upper trendline, then this will be a good place to consider a possible long term sell position expecting the price to continue much lower with an ideal target set around 25.703, if the price breaks below this level, then further momentum much lower is expected. On the flipside, in case the price breaks above the upper trendline, then  further momentum to the upperside is expected with an ideal target set around 27.344 and may extend much higher.
Trade Recommendations:
We're sellers towards 25.703 and may extend much lower

 CAC40 Weekly Review

Wave Analysis
As it is on the 4 hours chart attached, Euro is currently in an active downtrend. As long as the price is held below the upper trendline, we are looking forward to selling the last impulsive wave (c) to the lowrside and should breakout below the end of the first impulsive wave (a), 6529.9. If the price breaks below this level, then further momentum to the lowerside is expected with the next ideal target set at 6301.2. On the otherside, in case the price rallies to the upperside, then a clear breakout above 6676.9 will mean we are continuing to the upperside with the next ideal target set around 6700.00 and may extend much higher.
Trade Recommendations:
Expect a possible rally towards the lower trendline

 German Stock's Index Weekly Review

Wave Analysis

German stocks index is currently in an active up trend, however, during the previous trading day, the index started to the correct itself to the lowerside, we are expecting further rally to the lowerside and is still pretty much bearish. If you are looking at this chart at the moment, we expect further rally to the lowerside and could see the price break beyond 14996.8 and may extend even further. On the otherside, if the price breaks above 15861.8, then further momentum to the upperside is expected, a breakout beyond this level will push the price  even higher towards 16000.00 and may push price much higher towards 16500.

Trade Recommendations:

Expect further correction towards 14996.8

 

 

 

Bob Stan
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