Gas Weekly Review
Wave Analysis
Last week, after a tremendously decline, Gas failed to break below the supportive zone 2.690-2.586, instead this symbol bounced off from this zone and is currently heading to the upperside. We expect this bounce to be an end to the corrective three wave cycle and could push the price even higher. We expect the current rally to the upperside be the unfolding of an impulsive wave count and could see the price break above 2.920 towards 3.00 or even higher. And on the flipside, only a break below 2.690 will push the price to the lowerside.
Trade Recommendations:
Waiting for a rebuy from 2.680 with your take profit at 2.920.
Gold Weekly Review
Wave Analysis
During the previous week, Gold markets rallied to the lowerside but could not go below the supportive trendline. we expect the bounce from the supportive trendline to be an end to the corrective three wave cycle that the current bullish price rally is the continuation of an impulsive wave count but should not go above the upper trendline. Should price break above this trendline, then we expect further momentum to the upperside and should not go beyond 1555.29. A break above this level will push the price even higher.
Trade Recommendations:
Buy Gold towards the upper trendline.
Brent Oil Weeky Review
Wave Analysis
During the previous week, perfectly as previously forecasted, Brent oil continued to the upper side and is still pretty much bullish. As long as the price remains below the upper trendline, we expect further momentum to the upperside, we expect this upwards rally to be the continuation of the corrective three wave cycle and could see price rise up to 67.50. This view will only be invalidated in case the price bounces off from the same trendline, if this is the case, then we expect a possible sell towards 57.50.
Trade Recommendations:
Remain long towards the upper trendline.
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