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Sell Brent Oil

Sell Brent Oil | 01 May 2020

 Gold weekly Review

Sell Brent Oil

Wave Analysis
During the previous trading  week, Gold continued to the upper side and is still pretty much bullish both on the daily and on the weekly charts. While the price is held above the Alligator indicator attached, we expect nothing but a possible momentum to the upper side, the anticipated bullish price rally is the continuation of both the impulsive waves (5) and (v) and should break above the recent highest high towards 1800.00 and could head much higher. Conservative trades should wait for a possible correction towards 1700.35 to pick a low risk buy position.
Trade Recommendations:
Remain long towards 1800.00.
Brent Oil weekly Review
Sell Brent Oil
Wave Analysis
Brent oil is currently in an active downtrend, while the price is contained below the alligator trend indicator, we expect nothing but a possible momentum to the lower side, the anticipated bearish price rally is the continuation of the impulsive wave (v) to the lower side and should break below 18.345 towards 16.00 or even lower. As it is now, buying, or holding onto a buy on this symbol is very risky and cannot be advised, only sell positions looks ideal and can be recommended, but, in case  the price rise above 37.345, then we may consider a buy.
Trade Recommendations:
Remain short towards 18.345.

SPX500 weekly Review 

Sell Brent Oil

Wave Analysis

SPX500 continues to move to the upperside and is still pretty much bullish both on the daily and on the weekly charts. As long as the price is held above the alligator trend indicator, we expect nothing but a possible momentum to the upperside, the anticipated bullish price rally is the continuation of the impulsive wave (v) and should break above 2937.0 towards 3000.00 or even higher. As it  is now, I recommend looking for long term buy positions with an ultimate target around 3000.00.

Trade Recommendations:

Remain long

 
Bob Stan
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