Long gold towards 1800.00. | 03 July 2020

Gold Weekly Review 

Wave Analysis

During the previous, Nothing significant appeared to have happened on this pair. As long as the price remains above the two simple moving averages, we expect nothing but a possible momentum to the upper side, we're waiting for a clear breakout above 1778.31 to pick a long term buy position. The anticipated bullish price rally is the continuation of the impulsive wave (v) to the upper side and should break and close above 1778.33 towards 1824.0 or even higher. A break below the 52 Simple moving average may mean we're sellers.

Trade Recommendations:

Long gold towards 1800.00.

CAC40 weekly Review

Wave Analysis

As long as the price remains above 4814.0, we expect nothing but a  possible momentum to the upper side, the anticipated bullish price rally is the continuation of the impulsive wave (v) to the upper side and should break above 5354.0 towards 6162.0. As it is now, only buy positions looks ideal and can be recommended, but should the price break and close below 4678.30, if this is the case, then further momentum to the lower side is expected with an ultimate target around 3730.0.

Trade Recommendations:

Buy a  break above 5354.0.

DowJones Weekly Review

Wave Analysis

Earlier this year, Dow Jones  corrected itself significantly to the lower side but could not go beyond the supportive trend line. After the pullback towards 27358.0, we expect the corrective wave (b) to have ended  that the current bearish price rally is the continuation of the anticipated bearish price rally is the continuation of the impulsive wave (c) to the lower side and should break below the 23758. This move is highly anticipated since the previous week's candle is a bearish pin bar candle and signals a possible continuation to the lower side.

Trade Recommendations:

Remain short towards the supportive trend line.

Bob Stan
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