Gold Weekly review
Wave Analysis
The corrective wave (c) failed to continue massively to the lower side, instead, it hit the lows of 1445.83 and has currently pulled back towards our sellers area 1472.29-1484.36. While the price remains below this zone, we're looking for a possible long term sell order with an ultimate target around 1419.03. This view can only be invalidated in case the price breaks and closes above 1484.36, if this is the case, then further momentum to the upper side is expected with an ultimate target around 1549.83.
Trade Recommendations:
Wait for a possible sell from around 1484.36.
Gas Weekly review
Wave Analysis
Duringthe previous week ending 20th of December Gas continued massively to the upperside, howevre, ealier today, the price gapped to the lowerside and is currently below the previous week's opening price, while the price is contained below this level, I expect a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of the impulsive wave (5) and should break below 2.060 towards 1.502 or even lower. On this chart, only sell positions looks ideal and can be recommended.
Trade Recommendations:
Sell Gas with your take profit at 2.045.
Brent oil weekly Review
Wave Analysis
During the previous week, the impulsive wave (5) failed to hit our target previously set around 66.90, rather oil bounced off from around 66.25 and is currently heading to the lower side, we expect this rebound to be an end to the impulsive five wave cycle that the current bearish price rally is the continuation of a corrective wave count and could see price break below the supportive trend line. If you have to trade this symbol, wait for the corrective wave (b) to end then sell the impulsive wave (c) towards 64.30.
Trade Recommendations:
Sell Brent oil with your take profit at 64.20.
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