Buy WTI | 23 July 2021

 WTI weekly Review

Wave Analysis

During the previous week, WTI rallied to the lower side but could not breakout below the lower  dynamic supportive moving averages, As long as the price does not clearly breakout below the black, we expect any rebound from it to have marked an end to the corrective wave (4), that any clear bullish signs will be the continuation of the last impulsive wave (5) to the upperside and may head straight towards 80 and may extend much higher.

Trade Recommendations:

We're buyers towards 80.0 and may procced towards 89.

BTCUSD Weekly Review

Wave Analysis

Since April this year, we have seen massive retracement that have \seen BTCUSD reach as low as 31416.36. As it is on the weekly chart attached, we are still to see further correction to the lowerside, ideally, we are looking for the possibility that the price should continue to the lowerside but should not go beyond 11,869.17. This is a key zone, and while the price is within it, we are keen to look for low risk buy positions expecting the price to rally much higher towards 64,618.90 and may breakout much higher.

Trade Recommendations:

A clear breakout below 31,898 will mean we are continuing much lower towards 11,869.17.

SPX500 Weekly Review

Wave Analysis

For the past few years, SPX500 has been in an active up trend and is still pretty much bullish and should breakout above 4387 and may extend much higher towards 4480 and may extend much higher towards 4500 or even higher. As it is  now, the price should pullback to the lowerside but should not breakout below 38.2% fib level, and may not go below 50.0% fib level and should bounce off from it where we will be looking for a possible long term buy position.

Trade Recommendations:

We're waiting for a buy from around 50.0% fib level to pick a possible long term buy position towards 4500.00.

Bob Stan
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