Weekly Review | 14 February 2020

Gold Weekly Review 

Wave Analysis

During the previous trading day, gold markets moved to the upper side but could not go beyond the upper trend line, we expect the bounce from 17.726 to have marked an end to the corrective wave 4, that the current bearish price rally is the continuation of both the impulsive wave (c)  and 5 to the lower side and should break below 17.170 towards 16.130. This view can only be invalidated in case the price breaks and closes above the upper trend line, if this is the case, then a momentum to the upper side is expected.

Trade Recommendations:

We are looking for long term sell position towards 16.130.

 Gas Weekly Review

Wave Analysis

During the previous trading week, the impulsive wave (v) continued to the lower side and is still pretty much bearish both on the daily and on the weekly charts. As long as the price remains below the the alligator trend indicator, we expect further momentum to the lower side, the anticipated bearish price rally is the continuation of the impulsive wave (v) to the lower side and could see price break below 1.785 towards 1.6545. This view can only be invalidated in case the price breaks above 1.965.

Trade Recommendations:

Remain short towards 1.785.

SPX500 Weekly Review

Wave Analysis

Overall, SPX500 is currently in an active up trend. As long as the price remains above the Alligator Trend Indicator attached, I expect further momentum to the upperside, the anticipated bearish price rally is the continuation of the impulsive wave (v) to the lowerside and should break above 3352.0 towards 3383.0. This view can only be invalidated in case the price breaks and closes below 3228.00. If this should be the case, then we will expect further momentum to the lowerside.

Trade Recommendations:

Buy a break above the previous weeks highest high.

Bob Stan
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