Gold Weekly Review
Wave Analysis
After a slight rally to the lowerside, the Gold is currently heading to the upperside. We expect the bounce from the level 1484.30 to have marked an end to the corrective wave (iv), that the current bullish price rally is the continuation of the impulsive wave (v) to the upperside and should breakout above 1564.30 towards 1600.00 or even higher. This view can only be invalidated in case the the impulsive wave (v) fails to break above 1564.30 or if the price breaks below 1484.30, if the latter is the case, then a possible momentum towards 1351.50.
Trade Recommendations:
Buy Gold With your target at 1564.30.
Silver weekly Review
Wave Analysis
Just as in gold, Silver corrected itself slightly to the lowerside but could not go below 17.810. We expect the bounce from 17.810 to have marked an end to the corrective wave (iv) that the current bullish price rally is the continuation of the impulsive wave (v) and should breakout above 19.710 towards 20.00 or even higher. This view can only be invalidated in case the price breaks below 17.430, if this is the case, then further momentum to the lowerside is expected with an ideal target at 16.290..
Trade Recommendations:
Buy Gold towards 19.710.
SPX500 weekly Review
Wave Analysis
For the past few days, Standard & Poor's 500 Index has been on the gaining end. We expect the current momentum to be the continuation of both the impulsive waves (3) and (v) and should breakout above 3035.0 towards 3500.00 or even higher. So far, this index is very bullish, chances of continuing to the upperside are very high, therefore, I only recommend looking for low risk buy orders. And should price retrace back to to the lowerside, then 2945.0 is the ideal place to look for buy order.
Trade Recommendations:
Buy SPX500 wth your target at 3100.00
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