Just as in silver, gold is currently in a range. Last week, we expected a possible break below the lower trendline to push the price much lower unfortunately, the price pulled back up and ended up closing within the same same shape. As it is now, we are only intrested in reversals, we are expecting a possible break below the lower trendlne to pick a low risk sell position, or a break above the upper trendline to push the price to the upperside with an ultimate target set around 2083.02. On this chart, we expect further momentum to the upperside.
Trade Recommendations:
Remain flat for now, wait for breaking below the supportive trendline
Silver Weekly Review
Wave Analysis
Silver is currently rallying within a range. The price is currently rallying within a contracting wedge formation. As long as we are not seeing a clear breakout above or below the range, we expect nothing but a possible rally within the shape. And should the price breakout and close above the upper trendline, then we will be expecting further momentum to the upperside. A break and close below the lower trendline may push the price much lower with an ultimate target set around 23.500 and could breakout much lower.
Trade Recommendations:
Wait
DAX Weekly Review
Wave Analysis
German Stocks index is currently rallying within A contracting wedge formation. As it is now, we are expecting a possible break below the supportive trendline to push the price further down, or a break above the upper trendline to push the price further to the upperside. Ultimately, we are expecting a possible momentum to the upperside with an ultimate target set around 13445.5 and could breakout much higher. The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upperside.
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