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Weekly Review

Weekly Review | 13 October 2023

 Silver Weekly Review

Weekly Review

XAGUSD is currently moving impulsively to the upside. This pair is currently in an impulsive phase We can see from the chart above that despite the impulsive moves to the upside, the price is still in a downtrend. The price is currently forming the major outer wave "IV," with our target set at the resistance zone of 34.798. We expect the price to rise up to the resistance zone at '34.798'. You can place a long position with your profit target set at 34.798. Ensure you use proper risk management.

Trade Recommendations:
We're waiting for buy orders for now
 
Gold Weekly review
Weekly Review
XAUUSD is currently in an impulsive phase following the V-wave pattern. Currently, the price is at major impulsive wave III, 1810.11. We expect the price to correctively move to the upside, with our target set at the resistance zone of "1903.94". You can consider placing a long position now, with your profit target ranging from 1884.19 to 1903.94. Lastly, note that this setup will be invalidated if the price breaks below major impulsive wave III, "1810.11". Ensure you use proper risk management.
Trade Recommendations
We're buyers for now
SPX500 Weekly Review:
Weekly Review
SP500 was largely bullish for the better part of last week. As we can see from the chart above, the price is in a downtrend, and currently, this pair is in an impulsive phase. At present, the price is at the major outer wave "IV," 4320.2. This zone represents a resistance level that the price has failed to break above on several occasions. We anticipate the price dropping impulsively to the downside, with our target set at the support zone of 4125.6. You can consider placing a short position now, with your profit target ranging from 4162.7 to 4125.6.
Trade Recommendations
We're short for now
Bob Stan
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