During the previous trading week, instead of rising towards 20.53, we saw a slight correction of the inner impulsive wave (i) and the outer larger wave (c). We expect this downward rally to be a mere correction and should not go below then of the corrective wave (b), 15.96. According to the chart, if you did not buy DeutscheBK within the supportive zone 15.96-15.61 few months ago, you could wait for price to pullback to this zone then buy both the inner wave (i) and the outter wave (c) to the upperside with an ultimate target at 30.75
Trade Recommendations:
Buy DeutscheBK within 15.96-15.61 with an ultimate target at 30.75.
SPX500
Wave Analysis:
During the previous trading week ending 13th October 2017, the impulsive wave (5) extended to the upper side and is still pretty much bullish both on the daily and the weekly charts. This index has been in a constant uptrend for the past decade and chances of rising even higher very higher. Thus, during this week, we're waiting for a slight correction to the lower side to re-buy the impulsive wave (5) to the upper side but should not go beyond 3000.00. If there's retracements, then these retracements should not go below 2497.2 which will be a clear buy place. If these correction extends below 2497.2, then this index could drop even further towards 2131.9, where we'll be looking for a buy.
Trade recommendations:
Wait for minor pullbacks to the lower side to re-buy this commodity with an ideal target at 3000.00
Bitcoin weekly review
Wave Analysis:
Perfectly as previous forecasted, last week, Bitcoin smashed above the 5000 level and even reached the highs of 5800.00. This cryptocurrency is still very bullish and chances of rising even higher are very much higher. The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upper side and could hit the highs of 7500.00. If the price should rise above 7500.00, then the price could continue even higher but should not go beyond 10,000.00 by the end of next year. This Cryptocurrency has a strange positive correlation and tends to be in an up trend.
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