Weekly Review | 06 August 2021

BTCUSD Weekly Review 

Wave Analysis

During the previous trading week, BTCUSD broke above the zone 40,716.31-40200.16 and is still pretty much bullish on the daily and on the weekly charts. While the price remains above this zone, we expect nothing but a possible rally to the upper side. The anticipated bullish price rally is the continuation of an impulsive wave count and should see price rush towards 47,942.51 or even higher. This view will only be invalidated in case the price breaks below 40,200.16 towards 33,300.90.

Trade Recommendations:

We're buyers towards 47,942.51.

SPX500 Weekly Review

Wave Analysis

SPX500 is currently in an active up trend. While the price remains above the Alligator indicator, we expect nothing but a possible momentum to the upper side. The anticipated bullish price rally is the continuation of the last impulsive wave (v) to the upper side and should head straight towards 4466.8 and may head straight towards 4500.00 towards the next level marked at 4600.00. As it is now, only buy positions looks ideal and can safely be recommended.

Trade Recommendations:

We're buyers towards 4500.00.

WTI Weekly Review

 

Wave Analysis

Few days ago, WTI bounced off from the supportive trendline, shown above, headed straight to the upper side and is still pretty much bullish both on the daily and on the weekly charts. If you are looking ay this chart right now, I recommend looking for a possible long term buy positions towards the upper trendline. The idea is to wait for slight pullback to pick a possible long term buy position towarrds 76.050 and ,ay extend much higher.

Trade Recommendations:

We're buyers towards 76.050.

Bob Stan
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