The SPX500 continues to rally to the lowerside and is not showing signs of continuing to the upperside. As long as the price remains below the upper trendline, we are looking for nothing but a possible rally to the lowerside. the idea here is to keep looking for sell orders towards 5282 and may see the price rally much lower in case the price breaks below it. On this chart, sellers are in control.
Trade Recommendations:
We're sellers towards 5255.82.
HSI Weekly Review:
Wave Analysis:
Last week, HSI PUlled back to the lowerside after breaking above 19299.7. While the price remains above this level, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the last impulsive wave (c) to the upperside and may see the price rally towards 22391.5 and may breakout much higher. On the flipside, if the price breaks and closes below 19559.2, and may push the price towards 16835.5 towards 15600.
Trade Recommendations:
We're buyers towards 22391.5.
Brent Oil Weekly Review
Wave Analysis:
During the previous week, the Brent oil rallied to the upperside and is now above 82.779. This is a key level and while the price remains above it, we are looking for a possible extension of the last impulsive wave (c) to the upperside and may see a break above 88.832. If this level is broken, then buyers should push price much higher towards 97.961. On the flipside,a break and close below 82.779.
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