Barclays weekly review
Wave Analysis:
During the previous week, Barclays bank shares recovered the value it lost almost a fortnight ago, but is still within our sellers territory. As long as the price remains below 11.95-11.76, we expect a possible momentum to the lower side but should not go beyond the daily support seen at 10.72. If this support is violated to the lower side, then further momentum towards 9.05 is expect. On the other side, if the price should breakout above 11.96, then we we're expect a possible bullish acceleration towards 14.25 or even higher. According to the current chart set and structure, only short positions looks more ideal.
Trade Recommendations:
Sell Barclays shares now with your take profit at 10.72
DeutscheBK Weekly Review
Wave Analysis:
Last week, DeutscheBK established a weekly support at 15.50 and could not descend any lower. We expect this support to have marked the end of the impulsive wave (c), that the entire three wave cycle is flat corrective wave count. And that any movements to the upper side from anytime now, will mean we're heading to the upper side towards the weekly resistance line 20.63. According to the weekly chart above, we're interested in low risk buy position with our first target at 16.95 and the next at 20.63. This view will only be rendered futile in case the price break below 15.58.
Trade Recommendations:
Look for Long posiotion now towards 20.63.
Gold Weekly Review
Wave Analysis:
For the better parts of this month, Gold has been pulling back upwards despite last months forecasts that it could decline towards 1054.79. According to the weekly chart above, as long as the price remains below the weekly resistance zone seen at 134866-1329.62, we expect a possible rebound from it to pick a short position. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lower side and may break below 1054.79 towards 666.00. This view will only be invalidated in case the price breaks above 1348.54, if this is the case, then we expect further momentum towards 1898.80.
Trade Recommendations:
Sell Gold now towards 1054.79
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