Gas Weekly Review
Wave Analysis
Few weeks ago, Gas continued to the lower side and is still pretty much bearish both on the daily and on the weekly charts. We expect the bounce from 1.815 to be a mere pause to the previous downtrend, that the current bullish price rally is the continuation of a correction to the upper side but should not go beyond 1.985. IN the long run, we are expecting a possible breakout below 1.815 to confirm a possible continuation to the lower side towards 1.730 towards 1.700. A break below this level will push the price much lower.
Trade Recommendations:
Wait for a resell from 1.985.
WTI Review
Wave Analysis
Just as expected, WTI continues to the upper side but should not go beyond 53.040. We expect the current bullish price rally to be the continuation of a correction to the upper side but should not rise beyond the level mentioned above, as it is now, we are waiting for a clear sign that the corrective wave (4) is ended so that we sell the last impulsive wave (5) to the lower side towards 49.225. A break below this level will push the price much lower towards 47.965. This view can only be invalidated in case the price breaks above 54.300.
Trade Recommendations:
Waiting for a possible long term sell from 56.040.
ASX Review
Wave Analysis
During the previous trading week , the impulsive wave (v) continued to the upper side and is still pretty much bullish both on the daily and on the weekly charts. According to the 4 hours chart attached, we are expecting a possible break above 7166.0 to confirm a possible momentum much higher towards 7220.0. As it is on this chart, we are waiting for a possible correction to pick a low risk buy order. A break above 7166.0 to pick a long term buy order towards 7220.0 and could break much higher towards 7300.00.
Trade Recommendations:
We're upwards look for buy orders.
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