DJI30 Weekly Review
Wave Analysis
During the previous week ending 11th December, nothing much happened on Dow. The price rallied slightly to the upperside before closing just a few points away from its opening price. On this chart, we expect further momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (v) to the upperside and should break and close above 30351. An break beyond this level will mean we are continuing to the upperside. On the flipside, if the price breaks and closes below the blue line, then further momentum to the lowerside is expected towards 26491.00.
Trade Recommendations:
Look for long term buy position towards 30351.
EXXON WEEKLY REVIEW
Wave Analysis
Last week, the shares of this company rose significantly and are still pretty much bullish. On this chart, I recommend looking for more buy positions expecting price to continue upwards towards 47.20, if the price pulls back to the lowerside, then this will be the unfolding of a correction to the lower side but should not go beyond 23.6% fib level, an ascend below this fib level will push the price much lower with the next ideal target set around 50.0% fib level. As it is now, I recommend only buy positions.
Trade Recommendations:
Buy a rebound from 23.6% fib level towards 47.20.
Gold Weekly Review
Wave Analysis
Last week, Gold bounced off from a significant resistance level 1862.71 but failed to rally significantly to the lowerside. As long as the price remains below 1862.71, 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 will likely break below the supportive trendline. If you are looking at this chart now, keep looking for long term sell positions. However, in case the price breaks and closes above 1862.71, then further momentum to the upperside is expected.
Trade Recommendations:
Remain short towards 1760.55.
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