Weekly review. NIKKEI,DAX, Silver | 17 July 2015

NIKKEI

Monthly chart: a descending swing was predicted though bulls try to resist. As long as we have a risk that month will be closed by pinbar, younger charts show arguments that decline will continue.

Weekly chart: we have the first crossing of swings down as well as O&U pattern formed on younger frames. Goal of bears is to break under 19021 and get a required momentum.

Daily chart: a clearly bearish Over&Under from 20655. The first crossing has been received within the frames of formation of an ascending swing and enough space remains to form it completely.

Scenario: growth to 20655 and start of a new decline within the frames of a daily O&U. Target - 18900.

Trading decisions:

1) Sell Limit orders from 20655, Stop orders above 20995, Take profit 18900

DAX30

Monthly chart:Though swing is short, it is full. Bulls may try to break the last top.

Weekly chart: bears have one crossing down and they are not letting the index to go above 11934.9 (the last local High). Whereas bulls follow quite the opposite goal: break this area to be able to attack 12426.6 (blue arrow)

Day chart: as we see, a control resistance is placed below at 11632.6. If bulls manage to break this area through, pattern Over&Under from 10800.0 will be formed.

A rather confusing resistance on 11934.9. With a high probability, it fits sales to 10800.0.

Scenario: 1) Breakthrough above 11632.6, movement to 11934.9, then decline to 10800.0 and start of a new strong swing. 2) If the price is not able to break above 11632.6, index can get under 10649.0 again.

Trading decisions:

1) We keep purchases to 11934

2) Sell from 11934.9 к 10800.0

3) On decline to 10800.0, in the middle run we shall buy to 12500.0 again.

Silver

Monthly chart: Buyers have reached one more critical achievement – lifting up the bottom in a potentially ascending structure. Now it is local because bar is far from being closed. If month is closed in approximately similar configuration, there will be a chance to start a new ascending trend on Silver. Drop was tremendous and there is come point in reversal. Movement above the last top — 18.46 – would become a proof.

Weekly chart: bulls were very close to a pinbar. But reversal momentum is here and players buy silver on declines.

No direction, price is updating highs and lows. Swing is not structured and there is a point to search entrance to upper levels.

Day chart: descending structure is preserved but movement above 15.90 will form Northern Over&Under and enable buying from 15.50.

Scenario: 1) Upon growth above 15.90 — we shall buy from 15.50 to 18.46. 2) If the price is not able to move above 15.90 — we shall sell under 14.66 to 14.05.

Trading decisions:

Acting according to the one of scenarios.