Gold weekly review
Technical Observation
Last week, nothing much happened on the Gold Markets. Gold is currently below a significant daily resistance zone 1489.51-1478.58. While the price is held below this zone, we looking for a possible long term sell order towards 1446.70. On its way to the lowerside, the key levels to look for include 1464.70 and 1429.20. If these levels are broken, then further momentum to the lower side is expected with an ultimate target around 1375.78. But should the price break and close above 1489.51, then we may consider a possible buy position.
Trade Recommendations:
Wait for a sell.
Gas weekly review
Technical Observation:
Even after the previous forecast that this symbol could rally significantly to the lower side, Gas failed to continue to the lower side, rather, he price of gas pulled back to the upper side but is still below a significant handle 2.435. This is a key level and while the price is not breaking above it,we still hold onto the previous anticipation that this pair could continue to the lower side. However, in case the price breaks and close above 2.435, then this will give us a good place to consider a buy towards 2.577.
Trade Recommendations:
Wait
Brent oil weekly review
Technical Observation:
Other than the Friday’s candle which closed below the Thursday’s opening price. While the price is contained above the upper trendline and also above the level 64.02, we’re looking for further momentum to the upper side and should break above 67.20. As it is on this chart, we’re waiting for a possible pullback towards the support level 64.03 to pick further momentum to the upper side. But in case the price breaks and closes below 64.03, then we may consider a possible sell.
Trade Recommendations:
Wait for a rebuy from 64.03 with your take profit at 67.20;
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