Comece
a negociar

Principal >
Analytics
>
Fresh forecast
>
Ondas de Elliott para análise da correlação de Forex
>
Gold, Silver, Oil Weekly Analysis

Gold, Silver, Oil Weekly Analysis | 18 Dezembro 2015

Gold weekly Review:

Gold, Silver, Oil Weekly Analysis

Weekly Review:
 
Since 25th August 2013, Gold has been trading within the downward channel, not going above the red diagonal resistive line and below the green diagonal supportive line. However, during the previous week 4 December 2015, Gold tested the lower green trend line but could not close above it. There are very high chances that the previous downward movement witnessed during the week ending 11th December 2015 is mere a corrective move downwards before we continue long. Ideally, we expect gold to trade in the higher ranges during this week, as long as gold trades above this green supportive trend line we will look for buy positions with target at 1091, and 1106.

Justification:

The upward movement is highly anticipated since for the past 3 years, Gold and silver has been trading in a similar direction thereby suggesting a positive correlation. Thus, since silver is already trading along a very significant green trend line (Shown on the silver weekly review), if it bounces above this trend line, we will go long in both commodities. If the price closes below the green trendline in silver, then it will mean that the long time supportive trend line has been broken and thus we will be heading short in both commodities:

Trade Recommendation:

As long as gold trades above this green supportive trend line we will look for buy positions with target at 1091, and 1106.

Silver weekly Review:

Gold, Silver, Oil Weekly Analysis

Weekly Review:

Since 25th August 2013, Since has been trading within the falling wedge, not going above the red diagonal resistive line and below the green diagonal supportive line. However, during the previous week 4 December 2015, Silver tested the lower green trend line but could not close above it. It short up during that week, but then during the immediate previous week, the price retraced back, and closed just along the green trend line. In this case, two things are possible, price could either close below this trend line during this week and head further short, or price could bounce off from this supportive trend line and head long. In either case, this diagonal support trendline is a strong level and will require a lot of bears to cross, it may still hold true for this week. Thus, we expect silver to trade in the higher ranges during this week.

Justification:

The upward movement is highly anticipated since for the past 3 years, Gold and silver has been trading in a similar direction thereby suggesting a positive correlation. Thus, since Gold is already trading just above a very significant green trend line (Shown on the gold weekly review), if it bounces above this trend line, we will go long in both commodities. If the price closes below the green trendline in gold, then it will mean that the long time supportive trend line has been broken and thus we will be heading short in both commodities:

Trade Recommendation:

As long as Silver trades above this green supportive trend line we will look for buy positions with target at 14.60 and 15.51.

Oil Weekly Review:

Gold, Silver, Oil Weekly Analysis

Weekly Review:
 
During the previous week, Oil markets traded perfectly short as previously forecasted on our weekly analysis and even hit a significant supportive trend line (green trend line.). Following the massive downward movement witnessed during the previous week on  the weekly chart, we are reluctant to go long in oil markets. We are waiting for a clear bullish bounce from this trend line so that we can buy, otherwise should the price close below this green trend line then we will continue short with targets at 25.03 and 16.42.

Justification:

While oil markets is trading along a very significant supportive trend line, other positively correlated commodities such as gold and silver are also trading along very similar supportive green trend line(check silver/gold weekly review). We are waiting for a clear bounce in both Gold and silver to buy oil, otherwise we are short in all this commodities.

Trade Recommendations:

As long as oil markets trade above this supportive green trend line, buy oil will targets at 42.9, and the next target at 48.61.

Bob Stan
Agree with the review?
Traders' opinion:

Close
Entrar

Mostrar senha

Ocultar senha

 Esqueceu a senha?
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with rendering Personal area. How to enable cookie support.

Nossos melhores prêmios:

FreshForex is a brand that provides access to online trading for clients from more than 158 countries all over the world. The Company's partners are the licensed European liquidity providers, banks, payment aggregators and systems with which the company has been cooperating for more than 19 years.
Clients must be at least 18 years old to use the services of the Company.
The company's services and information on the site are not intended for citizens and residents of some countries, such as Belgium, China, North Korea, France, Hong Kong, Russian Federation, Spain, Great Britain, USA, and also countries identified by the FATF as high-risk countries or countries with serious AML/CFT deficiencies; countries or regions that are under international sanctions. A complete list is available on the "Countries where the company's services are not provided" page. The Company does not have representative offices in the Russian Federation and does not register clients from the Russian Federation.
Risk Warning: Trading financial instruments with leverage carries high risks and can result in both profits and losses. Potential losses are limited by the deposit amount. Before deciding to trade, the client should assess their risk tolerance, experience, and knowledge level.

Freshforex.com uses cookies for better website operation, traffic flow analysis, and personalization. By using this website you agree to our Cookie Policy.
User Data privacy is protected in accordance with GDPR. The SSL certificate installed on the website transfers the information over a secure protocol.
The site contains links to websites of third parties. The Company does not check or control the third-party resources that are in any way related to the FreshForex site, so the Company is not responsible for any third-party information or materials posted.
By creating a link to a third party website, the Company does not endorse or recommend any products or services offered by the third party.
The website content is intended for informational purposes only. It should not be regarded as an offer or solicitation to any person in any jurisdiction in which such an offer or solicitation is not authorized. It also should not be considered as an offer/solicitation to any person to whom it would be unlawful to make such an offer or solicitation, nor regarded as a recommendation to buy, sell or otherwise deal with any particular currency or any other trading asset investment. If you are not sure about your local trading regulations, please, leave this website immediately.
© 2004—2024 FreshForex – Forex broker
Reproduction of the contents is allowed only with active hyperlink to original source.