Gold weekly Review
Wave Analysis
Last week, nothing much happened on this symbol. As long as the price remains above the lower trendline, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (E) to the upperside and should breakout above 1984.05 towards 1995.60 or even higher. This view will only be invalidated in case the price breaks below the lower trendline, if this is the case, then further momentum to the lowerside will be ideal.
Trade Recommendations:
Buy a bounce from the lower trendline towards the upper trendline.
ASX weekly Review
Wave Analysis
Last week Australian index rallied to the lowerside and is still below the supportive trendline. As long as the price remains below this trendline, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the current corrective three wave cycle and could see price break below 5683.5. A break below this support will mean we are continue to the lowerside with an ultimate target set around 5452.5. A break above the upper trendline will push the price upwards.
Trade Recommendations:
Remain short towards 5683.5.
DAX Weekly Review
Wave Analysis
German stocks index continues to remains within the rising wedge formation. As it is now, we expect further momentum to the upperside towards 13544.5 and could breakout much higher. If you are looking at this chart now, we expect further momentum much higher. The anticipated bullish price rally is the continuation of the impulsive waves (v) and (5) to the upperside and should breakout beyond 13544.5 towards 14000.00 or even higher. This view can only be invalidated in case the price breaks below the lower trendline.
Trade Recommendations:
Wait and buy a bounce from the lower trendline towards 13544.5.
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