WTI Weekly Review
Wave Analysis
During the previous month, WTI attempted a breakout above the upper trendline but ended up closing below it. As long price remains below the upper trendline, we are waiting for a possible long term sell position expecting the price to rally to the lowerside and should breakout below 44.86. If the price breaks below this trendline, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of the impulsive wave cycle and could push the price much lower towards 2.76.
Trade Recommendations:
Watch for a possible long term sell position towards 2.76.
Gas weekly Review
Wave Analysis
Currently Gas is rallying above a significant zone 2.5777. As long as the price remains above this zone, we are on the sidelines, we are waiting for a clear rebound from this zone to pick a possible long term buy position expecting price to rally much higher with our target set along the upper trendline. And on the flipside, should the price breakout below the same trendline, we will be expecting further momentum to the lowerside with the last impulsive wave (E) to the lowerside and should break below 0.710.
Trade Recommendations:
Wait
Gold Weekly Review
Wave Analysis
Since late last year, Gold has been in an actice correction mode. Ealier this year, gold pulled back massively to the lowerside but could not go below 61.8% fib level. While the price remains above the 61.8% fib level, this is a very good place to consider a possible long term buy position expecting price to rally upwards towards 50.0% fib level, a breakout above this fib will push the price much higher with the next ideal target set at 23.6% fib level, if you are looking at this chart now, keep looking for buy position expecting a rally to the upperside with an ideal target at 1931.10.
Trade Recommendations:
Wait for a possible buy position from 1688.10.
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