HSI Weekly Review
Wave Analysis
During the previous trading week, HSI index rallied to the lowerside but could not clearly break and close below 23868.0. As long as the price does not clearly break and close below this level, we are on the sidelines, if the price breaks and closes below 23750.4, then this will be the correct place to consider a possible long term sell position with an ultimate target set around 22765.0 and may breakout much lower.
Trade Recommendations:
Sell a break below 23868.0 towards 22765.0.
Dow Jones Weekly Review
Wave Analysis
Few days ago, the Dow bounced off from the upper trendline and is currently heading to the lowerside. As it is right now, we expect the bounce from the upper trendline to have marked an end to the impulsive wave (5) to the upperside that the current bearish price rally is the continuation of an corrective wave cycle and may see the price break below the lower trendline towards 32998.00 or even lower.
Trade Recommendations:
We're sellers towards the lower trendline.
Gold Weekly Review
Wave Analysis
After a rebound from the upper trendline. Gold rallied to the lowerside and is still showing signs of continuing much lower. We expect this bearish rally to extend much lower but should not go beyond the lower trendline. And while the price remains within the wedge formation, we are waiting for a rebound from the lower trendline to pick a buy and rebound from the upper trendline to pick a sell position.
Trade Recommendations:
We're sellers towards the lower trendline.
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