SPX500 weekly Review
Technical Observation
SPX500 is currently in an active up trend. While we continue to see sustenance above the Alligator indicator and also above the 200 period moving average, we are buyers. The idea on this chart is to wait for price to get to its over sold areas to keep looking for more buy positions. As it is now, we are still buyers. If you took a buy position with us previously, keep this position open, we are expecting the price to rally much higher towards 5000 and may continue even higher.
Trade Recommendations:
Remain long
WTI Weekly Review
Technical Observation
Last week, we saw a breakout above the upper trendline. While we continue to see sustenance above this trendline, we are expecting nothing but a possible rally much higher. We are basically waiting for a rebound from the same trendline to pick a buy order expecting the price to continue much higher towards 70.00 and may extend much higher. At this point in time, buy positions looks ideal, however, should the price go below the lower trendline, then we will dive into a sell towards 54.05.
Trade Recommendations:
Look for long term buy position towards 70.00
Gas Weekly Review
Technical Observation
Currently natural gas is approaching a very significant weekly resistance zone 3.038-2.975. This is a key zone and while the price does not clearly break and close above it, we are on the sidelines, the idea is go wait for a clear rebound from it, then pick a long term sell position towards the lower trendline and may break much lower towards 2.490 or even lower. Should the price break above 3.038, then this will be a good place to consider a possible long term buy position towards 4.00 and may push even higher.
Trade Recommendatioons:
Sell a rejection from around 3.038:
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