Natural Gas Weekly Review
Wave Analysis
Ealier today, natural gas jumped above the upper trendline and is still pretty much above this trendline. As long as the price remains above this trendline, I expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (C) to the upperside and should breakout above 2.905 towards 3.205. And on the flipside, should the price pullback to the lowerside, the best place to look for a sell is if the price can break and close below this trendline, if this is the case, then a momentum to the lowerside is expected.
Trade Recommendations:
Look for long term buy orders.
Gold weekly review
Wave Analysis
After massive momentum to the upperside, Gold markets is currently in a corrective mode. As long as Gold remains within the contracting shape formation, I expect further correction to the lowerside but should not go beyond 1456.30. As it is on the 4 hours chart attached, I'm waiting for a possible bounce from the upper trendline to pick a long term sell order towards the lower trendline. This view can only be invalidated in case the price breaks above the upper trendline, if this is the case, then a momentum to the upper side is expected.
Trade Recommendations:
we're waiting for a sell.
Brent Oil weekly review
Wave Analysis
During the previous trading week, Brent rallied to the lowerside but ended up closing just a few pips below its week's opening price. The previous week's candle is a possible bullish continuation candle and as long as then price remains within the contracting shape formation, I expect nothing but a possible bounce from the upper trendline to pick a long term sell order. However, in case the price breaks above the upper trendline, then this will mean we're continuing to the upperside with an ultimate target at 64.240.
Trade Recommendations:
Waiting for a sell from the upper trendline.
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