Weekly Review | 10 June 2022

 HongKong Stock's Index

Weekly Review

Wave Analysis:
Last week, the HongKong Stock's Index rallied to the lowerside but ended up pulling back and closing as a bullish pin bar candle. On this chart, we weree looking for a possible buy position from around 19186.9, however, as it is right now, I expect nothing but a possible log term buy position. The idea is to keep looking for long term buy positions expecting a rise towards 31352 and may likeely continue even higher. If you are on this chart right now, keep looking for  low risk buy positions.
Trade Recommendations:
We're buyers for now with our target set at 31352.9.
German Stocks Index:
Weekly Review
Wave Analysis
Last week, the german stock's index rallied to the upperside but is still showing signs of continuing even higher. As shown above, we are in an uptrend. We are looking forward to a possible accelaration towards 14907.2 and may continue even higher. The idea is to continue looking for long term buy orders expecting a break beyond 14907.2 towards 15k and may continue much higher. On the flipside, if the price breaks and close below the previous week;s lowest low, then this may be a good place to consider a short position.
Trade Recommendations:
We're buyers towards 14907.2.
Brent Oil Weekly Review:
Weekly Review
Wave Analysis
Last week, the brent oil rallied to the upperside and is currently approaching a significant resistant level 120.142. This is a key level and while the price does not clearly break and close above it, the impulsive wave (c) may end here, howevre, if the price breaks and closes above it, then further momentum to the upperside is expected with the next ideal target set around 129.275 and may continue much higher towards 131.90 or even higher. ON the sellers side, if the price breaks below 110.760, then this will be the best place to consider a sell from.
Trade Recommendations:
We're watching for a  break above 120.142 to pick a possible long term buy position.
 
Bob Stan
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