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Buy Brent oil towards 68.40.

Buy Brent oil towards 68.40. | 20 December 2019

Gold Weekly Review 

Buy Brent oil towards 68.40.

Wave Analysis

During the previous trading week, nothing much happened on this symbol. Gold consolidated below the zone 1472.29-1434.35 but could not continue even lower. As long as the price remains below this zone, we expect nothing but a possible momentum to the lower side. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lower side and should break below the previous week's lowest low  towards 1419.54. This view can only be invalidated in case the price breaks and close above 1434.36, if this is the case, then a momentum to the upper side is expected.

Trade Recommendations:

Wait for a sell signal from within the zone 1494.36-1472.29 with your take profit at 1435.16.

Gas Weekly Review

Buy Brent oil towards 68.40.

Wave Analysis

After the bearish gap seen earlier this week, The impulsive wave (5) is yet to make any serious moves to the lower side. As long as the price remains below the same trend line above, we expect nothing but a possible momentum to the lower side, the anticipated bearish price rally is the continuation of the impulsive wave (5) and could see price break below 2.100 towards  2.1645. If you're not already in  a short position as at now, you could wait for a possible bullish correction towards 2.4800 to pick a long term sell order.

Trade Recommendations:

Wait for a possible correction to pick a low risk sell.

Brent Oil weekly Review

Buy Brent oil towards 68.40.

Wave Analysis

During the previous week, the impulsive wave (5) moved massively to the upper side and even attempted a break above 64.90 but could not close any higher.  We're waiting for  a clear break and close above 64.90 to confirm a possible rally to the upper side, the anticipated bullish price rally is the continuation of the impulsive wave (5) to the upper side and should go as high as 68.40 before a correction is seen. This view can only be invalidated in case the price breaks and close below 63.50, if this is the case, then a momentum towards 60.70 is expected.

Trade Recommendations:

Buy Brent oil towards 68.40.

Bob Stan
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