Lukoil weekly Review
Wave Analysis
For Almost 6 week's now, look oil has been in an active down trend. While the price remains below the Alligator indicator attached we are in an active down trend. The anticipated bearish price rally is the continuation of the last impulsive wave (v) to the lowerside and could break below 3932.0 towards 3800.00 or even lower. If you are looking at this chart now, keep looking for long term sell positions expecting price to continue even lower with an ultimate target set around 3800.00 and may extend much lower.
Trade Recommendations:
Remain short towards 3800.00.
Gold Review
Wave Analysis
Mid of last month, Gold markets bounced off from the upper trendline, headed straight the lowerside and is still pretty much bearish. While the price remains within the falling channel formation, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (E) to the lowerside and should break below the level 1822.10 towards 1802.30 or even lower. On the flip side, only a breakout above the upper trendline will push the price to the upperside.
Trade Recommendations:
Remain short towards 1822.10.
Natural gas Weekly Review
Wave Analysis
While Brend oil is loosing value, natural gas continues to rally to the upperside and is still petty much bullish. while the price remains above the three simple moving averages, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (V) to the upperside towards 5.00 or even higher. On this chart, we are only interested in long positions. A break and a close below the red trendline will push the price to the lowerside.
Trade Recommendations:
Remain long
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