Buy Brent Oil now | 16 July 2021

 Brent Oil Weekly Review

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Wave Analysis

After failing to hold itself below the lower moving averages, we expect nothing but a possible momentum to the upperside. We expect the rebound from 70.390, to have marked an end to the corrective wave (4), the the current bullish price rally to be the continuation of the last impulsive wave (5) to the upperside and should breakout above 78.850, if the price breaks above this level, then further momentum to the upperside. If the price breaks and closes below the red line, then further momentum to the lowerside is expected towards 64.030.

Trade Recommendations:

We're buyers towards 78.850.

Gold Weekly Reviews

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Wave Analysis

Few days ago, Gold bounced off from the level 1640.10, and is currently heading to the upperside. As long as the price remains above this level, we expect nothing but a possible momentum to the upperside, the anticipated bullish price rally is the continuation of the last impulsive wave (5) to the upperside and should breakout above 2036.38 and may push the price much higher. If the price rebounds from 1905.50, then this will be a good place to consider a possible momentum to the lowerside and could push price  towards 1640.10.

Trade Recommendations:

We're buyers towards 1905.50

CAC40 Weekly Review

Wave Analysis

After a failed break below the black indicator, CAC40 is currently in an active up trend. While the price breaks above the upper red line, then further momentum to the upperside is expected. The anticipated bullish price rally is the continuation of the last impulsive wave (5) to the upperside and could see the price breakout above 6711.9 and may extend much higher. And on the flipside, should the price break below the level 6372.0, then further momentum to the lowerside is expected with the next ideal target set around 6036.0.

Trade Recommendations:

We're buyers towards 6711.9. 

Bob Stan
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