Buy Natural Gas | 24 July 2020

Natural Gas weekly Review 

Wave Analysis

The Natural gas is currently in a range, not going above 2.107 or below the 1.527. As long as the price remains within this range, we are waiting for a buy from the supportive trendline and a sell from 2.107. As it is now, we expect a possible continuation of the impulsive wave (c) and should breakout above 2.107 towards 2.915. And should the price fail to break above 2.107, then a  bounce from this level will be a good place to consider a possible sell position but with an ideal target at 1.527.

Trade Recommendations:

Expect further momentum towards 2.107.

 SPX500 Weekly Review

Wave Analysis

After establishing a swing around 3250.0, SPX500 rallied to the lowerside and even went below the 23.6% fib level, but could not sustain this break, as long as the price remains above 23.6% fib level, we expect a possible momentum to the upperside and should break above this swing towards 3438.0. And in case the price fails to break above this swing high, then we will be expecting further momentum to the lowerside and should break below the 23.6% fib level towards 38.2% fib level.

Trade Recommendations:

Buy a clear breakout above 3150 towards 3438.0.

DowJones Weekly Review

Wave Analysis

Dow Jones is currently correcting itself to the lowerside, yesterday, the price failed to break above the swing high 27790.0, instead, the price retraced a few points from this level, as it is now, we are expecting a possible continuation of the impulsive wave (v) to the upper side and should break above the swing high 27790 towards 29910. And on the flip side, should the price break below 23.6% fib level, then we will be expecting further momentum to the lower side towards 38.2% fib level.

Trade Recommendation,.

Expect a possible bullish momentum towards 27790.00.

Bob Stan
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