Weekly Review | 30 July 2021

 BTC Weekly Review

Wave Analysis

If we take the previous Month's highest high as the swing low and the previous month's lowest low as the swing low, currently the price is in a pullback mode. As it is now, we have a pullback beyond the 38.2% fib level, we are expecting further pullback to the upper side but should not go beyond 61.8% fib level, if the price breaks and closes above 61.8% fib level, then further momentum much higher is expected, a rebound from 61.8% fib level will attract a sell towards 27,856.00 or even lower.

Trade Recommendations:

We're waiting for a sell from around 61.8% fib level towards 27,856.50.

SPX500 Weekly Review

Wave Analysis

During the previous trading day, SPX500 rallied to the lower side and even reached as low as 4266.00 but ended up closing above its opening price. The previous week's candle is a possible bullish continuation candle. As long as the price remains above the alligator indicator, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of an impulsive wave count and could see price break even higher.

Trade Recommendations:

Wait for a pullback to pick a possible long term buy positions towards 4600.0.

WTI Weekly Review

Wave Analysis

In the past few days, WTI bounced off from the lower trendline and is currently heading to the upperside, we expect the rebound from the lower trendline to be the end of the corrective wave (4) that the current bullish price rally is the continuation of the last impulsive wave (5) to the upperside and should break above 77.20 towards 80.00 or even higher. If you are looking at this chart right now, keep looking for low risk buy positions unless the price breaks below the lower trendline.

Trade Recommendations:

We're buyers towards the upper trendline. 

Bob Stan
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