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Gold, Oil, Silver Weekly Analysis

Gold, Oil, Silver Weekly Analysis | 25 December 2015

Gold weekly review:

Gold, Oil, Silver Weekly Analysis

Weekly Review:
 
During the previous week ending 18th December 2015, Gold traded perfectly short as forecasted but could not close below the green supportive trend line. We are waiting for a clear break out below the green supportive trading forming the bottom of the falling wedge before we continue short. In case of a clear bounce at this supportive trend line, then we will look for long positions with our targets at 1089 and 1176.

Trade Recommendation:

As long as Gold trades above the green trend line, look for long positions with targets at 1089 and 1176. Any clear movements below this trend line will call for short positions with ultimate targets below 982.55

Oil weekly review:

Gold, Oil, Silver Weekly Analysis

Weekly Review:
 
During the previous week ending 18th December 2015, Oil traded short as previously forecasted and even formed a downward hammer which means we could be headed short. Though we expect the green supportive trend line to be broken for further short position, we will wait for a clear break out below 33.32 before we go short in this commodity, however, should the price turn bullish just above this supportive trend line, then we will be looking for long positions with ultimate targets at 42.35 and 48.61.

Trade Recommendations:

Wait for a clear break out below 33.32 then go short with targets at 26.54 and 19.58. In an alternative case scenario, should the price turn bullish just above this supportive trend line, then we will be looking for long positions with ultimate targets at 42.35 and 48.61

Silver weekly review:
Gold, Oil, Silver Weekly Analysis
 Weekly Review:
 
 During the previous week ending 18th December 2015, Silver made little movements on both sides as both the bears and bulls were struggling to outdo each out, the commodity ended up moving only 165 pips above its open price. Following this, almost an indecision candle,  We are reluctant to execute any trades, however, should the price close above 14.29, then we will go for long positions with targets above 14.63. Should the price close below 13.64, then we will look for short positions with our targets along the green supportive trend line. Ideally, price should continue short with an ultimate stop along the green supportive trend line.

Trade Recommendations:


Wait for price close above 14.29, then go long with targets above 14.63. Should the price close below 13.64, go short positions with targets along the green supportive trend line

 

Bob Stan
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