Technical Observation
Gold is currently approaching a weekly support 1210.68. This week, while the price is above this support, I expect a bearish acceleration towards it, and should break lower. The idea is, if you're not in a short position as of now, you can still look for short positions now, but after pullbacks . As it is on the weekly chart, only sell positions looks more ideal, but should the price bounce from 1210.40, then, I will consider a long position towards 1356.44. Further sell positions can be advised below 1216.49.
Trade Signal.
Buy a bounce from 1216.69.
Australian Stocks Index
Technical Observation:
Australian stocks index is currently trading with an increasing bullish bias momentum. Few days ago, I expected a decline towards the lower supportive trendline but as it appears, ASX could rally upwards without having to pullback to the lower side. If you did go long while the price was rallying around the supportive trendline, its good to remain long, if not, you can wait for a bounce from the upper trendline to pick a short position. I will also recommend a short order should the price break below the lower trendline.
Trade Signal.
Buy ASX towards the upper trendline.
CAC40 Weekly Review
Technical Observation:
French Stocks index is currently trading with an increasing bullish bias momnetum. This index established a resistance around 5484.2, and unless there's a clear bullish breakout above it, I expect a possible bounce from it to pick a long term short position with my first take profit at 5055.6. On your way to the lowerside, some of the key lines to check for possible buy positions include $5340.0, $5240.0, $5142.5 and lastly 5055.6. If these lines should get breached, then further rally towards 4845.0 is expected.
Trade Signal.
Sell CAC40 on a clear bounce from 5484.2
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