During the previous trading day, Nothing much happened on Brent oil, we saw a rally to the lowerside and we are still seeing signs that the price may continue much lower. On this chart, we expect nothing but a possible momentum much lower. The idea here will be keep looking for low risk sell positions expecting a rally towards the lower trendline and may likely contiACnue much lower.
Trade Recommendations:
We're sellers towards the lower trendline.
SPX500 Weekly Review:
Wave Analysis:
As previously forecasted, the SPX500 continued to the upperside after crashing towards 3660.5. Following the bounce from this level, we took a buy position and is still holding on this position, the idea here is to keep looking for low risk buy positions towards 4105.1 and may breakout to the upper side towards 4606.3 or even higher. If you are on this chart, expect a possible extension of the last impulsive wave (5) and will likely break and close above 4809.0 and will continue higher.
Trade Recommendations:
We're buyers towards 4809.0.
Alibaba Shares Analysis:
Wave Analysis:
For the past few week's, we have seen the price of the shares of this company continue to plummet and is still showing signs of continuing much lower. If you are on this chart right now, I recommend you keep looking for long term sell positions expecting the price to break and close below 62.69 and may break much lower with the next ideal target set at 43.40. The anticipated bearish price rally is the continuation of the last impulsive wave v and is expected to extend much lower.
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