SPX500 weekly Review
Wave analysis
A few days ago, SPX500 continued to the upperside after rebounding from the lower trendline and is still pretty much bullish. while the price remains above the upper trendline, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upper side and should breakout above the upper trendline towards 4063.4 towards 4500.00 or even higher. On this chart, I don't recommend any sell positions, the idea is to wait for pullbacks to pick low-risk buy positions towards 4500.00 and may break out even higher.
Trade Recommendations:
Remain long towards the upper trendline towards 4063.4
Silver weekly Review
Wave Analysis
Silver continues to remains below the lower trendline, as we said during the previous trading day, while the price remains below the same trendline, we're looking for long-term sell positions towards 22.57. The idea is to continue looking for long-term sell positions expecting the price to break below 22.57. A rebound from the same level will provide us with a good buy place towards 29.00. If you took a sell position with us previously, please keep this position open, then drag your stop loss to break even but keep your take profit at 22.675. A break below this level will push the price much lower towards 19.223 and could breakout much lower.
Trade Recommendations:
Remain short towards 22.474
Gold Weekly Review
Wave Analysis
Last week, Gold pulled back to the upper side but is still below the Alligator indicator lines, while we continue to see sustenance below these three lines, we are expecting nothing but a possible momentum to the lower side. The anticipated bearish price rally is the continuation of the impulsive wave (5) to the lower side and should breakout below 1642.20 towards 1500.00 or even lower. And in case the price breaks above the blue line, then further rally to the upper side is expected with an ultimate target along the upper trendline.
Trade Recommendations:
Wait
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