Gold weekly Review
Wave Analysis
During the previous trading day, Gold markets rallied to the upperside but could not go beyond the daily Resistance zone 1472.29-1484.36. As long as the price remains below this zone, we expect nothing but a possible momentum to the lower side and could break below the supportive trendline. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lowerside and could break below 1419.44. This view will only be rendered futile in case the price breaks and closes above 1484.36.
Trade Recommendations:
Sell Gold towards 1419.44.
Gas Weekly Review
Wave Analysis
Just as previously forecasted, Gas rallied to the lower side after breaking below the supportive trendline and is still very much bearish both on the daily and on the weekly charts. We expect the the anticipated bearish price rally is the continuation of the impulsive wave (5) to the lowerside and could break and close below 1.9080. And on the flip side, should the price rally to the upperside, then only a break above 2.730 will mean we are looking for a long term buy order towards 2.980.
Trade Recommendations:
Sell Gas towards 1.980.
Brent Oil Weekly Review
Wave Analysis
After bouncing from the supportive trendlione and is currently heading to the upperside, following today's gap above the upper trendline, we expect nothing but a possible momentum to the upper side. The anticipated bearish price rally is the continuation of the impulsive wave (5) to the upper side and should breakout above 64.45 towards 68.70. And in case the price breaks below the now supportive trendline, we expect a possible momentum to the lowerside towards 60.20.
Trade Recommendations:
Buy Brent oil
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