Gas weekly Review
Wave Analysis
During the previous trading day, the impulsive wave (v) continued to the lower side and is still pretty much bearish. As long as the price remains below the supportive trend line , w e expect nothing but a possible continuation to the lower side, the anticipated bearish price rally is the continuation of the impulsive wave (v) and should break below 2.070 towards 2.060. As long as the price remains within the shape formation above, we recommend remaining long with an ultimate target around 1.954.
Trade Recommendations:
Remain long with an ultimate target at 1.9529.
Brent Oil Weekly Review
Wave Analysis
Just as previously expected, both the impulsive waves (v) and v continued to the upperside and is still petty much bullish both on the daily and on the weekly charts. We expect the current bearish price rally is the continuation of the corrective three wave cycle and could see continue to the lower side but should not go beyond 62.80. If the price goes below this level, then further momentum to the lower side towards 60.00. This view can only be invalidated in case the price breaks above 69.80, if this is the case, then further momentum to the lower side is expected.
Trade Recommendations:
Remain bullish.
Gold Weekly Review
Wave Analysis
Just as expected during the previous week, the impulsive wave 5 extended steadily to the upper side and should break beyond 1554.64. if the price successfully close beyond this level, then we expect further momentum even higher. As it is now, we are waiting for either a breakout above this level to pick a buy or a bounce from this level to pick a long term sell towards 1475.04. If you took a buy based on the forecast we stated last week, you should take profits now, and wait for a break beyond 1551.57.
Trade Recommendations:
Wait
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