Facebook Weekly Review
Wave Analysis
Perfectly as previously forecasted, Facebook shares rose above the zone 196.84-195.46 and is still pretty much above this zone, as long as 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 impulsive wave (E) to the upperside, the idea is to wait for a breakout above the previous week's highest high to pick a long term buy with an ultimate target at 207.21. A retracement towards 196.84 to pick a long term buy.
Trade Recommendations:
Buy Facebook shares from 196.84.
Gazprom Weekly Review
Wave Analysis
Nothing much happened on this pair during the previous trading week. We expected further momentum to the upperside as indicated by the MACD indicator. As long as the columns of MACD remains above the 0.00 handle, we expect further momentum to the upperside. The idea here is to wait for retracements to the lowerside to pick low risk buy orders. And on the otherside, should price break below 225.65, then this may be a sign that we're retracing back to the lowerside towards 173.50.
Trade Recommendations:
Look for buy orders now towards 260.00.
LukOil Weekly Review
Wave Analysis
After an impulsive rise for almost three years now, Lukoil is currently correcting itself to the lowerside for the second time. We expect the current move to the lowerside to be the continuation of the corrective wave (iv) to the lowerside but should not go below the supportive trendline. A bounce from this trendline will mean we're looking for a buy, this buy is the continuation of the impulsive wave (v) and should break above the all time high of 5881.0 towards 6000.00, and may breakout even higher.
Trade Recommendations:
Buy a bounce from the supportive trendline.
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