Gold Weekly Review
Technical Observation
Last month, nothing much happened on gold, the price closed just a few pips away from its opening price. On this chart, we still expect further momentum to the lower side but should not break beyond the zone 1749.63-1826.91. If the price successfully breaks and closes below this zone, then we will be looking for further momentum towards 50.0% fib level but should not go beyond. A rebound from within 1826.91-1749.63 will mean we are looking for long term buy position with our first target at 2096.55.
Trade Recommendations:
Buy a rebound from within 1826.91-1749.63 with your target at 2096.53.
NQ100 Weekly Review
Technical Observation
For several days now, NQ100 has been in an active down trend. On this chart, if the price bounces off from within 10951.2-10822.7, then this will be a good place to consider a possible long term buy position with our target along the upper trendline. A breakout above this trendline will mean we are continuing to the upperside with the next idea target seen at 12401.9. And on the other side, should the price break and close below 10822.7, then we will be considering a possible sell towards 10458.0.
Trade Recommendations:
Buy NQ100 from 10951.2-10822.7 towards 12401.9.
SPX500 Weekly Review
Technical Observation
Last week, SPX500 rallied significantly to the lowerside but could not reach the supportive zone 3208.5-3226.2. While the price remains above this zone, we are waiting for a clear bounce from it to pick a low risk buy position expecting price to continue to the upperside towards the upper trendline. And in case the price breaks and closes beyond 3208.5, then we will be looking for a possible long term sell position with an ultimate target set around 3032.0. On its way downwards the other key level to look for is 3104.0.
Trade Recommendations:
Wait for a buy from around 3208.5 towards 3544.0.
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