Gold Weekly Review
Technical Observation
Last week, Gold rallied to the lowerside but failed to break below 1890.53. While the price remains above this level, I expect nothing but a possible rally to the upperside. The idea is to wait for a pullback towards 1890.53 to pick a possible long term buy position with a target set at 1911.70. A break above this level will push the price much higher with our next target set at 1950.00. A break below 1890.53 will push the price much lower with the next target set at 1869.40. A break below this level will push the price much lower.
Trade Recommendations:
Wait for a rebuy from 1890.53.
NQ100 Weekly Review
Technical Observation
This NQ100 index is currently struggling below the zone 13754.9. While we are not able to clearly break and close above this level, we are on the sideline. If the price breaks and closes above 13754.9, then this will be a good place to consider a possible long term buy position expecting a break above 14061.9. If the price extends above this level, then we are likely to see a continuation much higher. On the flip side, a break below 13754.9, then this will be a good place to consider a possible sell position.
Trade Recommendations:
Buy break above 137454.9 towards 14061.9.
SPX500 Weekly Review
Technical Observation
SPX500 index is currently in an up trend. While the price remains above the red line, I expect nothing but a possible rally much higher. As it is now, it may be a bit risky to pick a buy position, therefore, we want to see a pullback towards 3991.8 to pick a possible long term buy position. The best place to consider a possible buy is from 3991.8. If the price breaks below 3991.8, then we will be expecting rally towards 3689.5. As it is now, wait for a buy is from around 3689.8 and 3383.6.
Trade Recommendations:
Wait for a rebuy from 3991.8.
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