WTI Weekly Review
Wave Analysis
During the previous trading week, WTI rallied to the upperside and is still pretty much bullish both on the daily and on the weekly charts. As it is now, we are waiting for a possible breakout above 66.585 to pick a possible long term buy position. The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upper side and should breakout above 69.380 towards 70.00 or even higher. And in case the price rebound from 66.585 or break below 57.793 and may extend much lower.
Trade Recommendations:
Wait for sell from around 66.585.
Wave Analysis
Gold is currently rallying around a significant support zone 1774.46-1768.81. As long as the price remains above this zone, we expect a possible impulsive wave towards 1875 and could breakout much higher towards 1950 or even higher. On the other side, should the price break and close below 1768.81, then we will be looking for a possible long term sell position towards 1689.66 and may extend much lower. On this chart, we are buyers towards the level mentioned above.
Trade Recommendatyions:
Buy gold now towards 1879.10.
Gold Weekly Review
Wave Analysis
Gold is currently rallying below a significant zone 1794.26-1775.74. While the price does not clear break beyond this zones, we are waiting for a possible sell signal towards 1661.80. The anticipated bearish price rally is the continuation of an impulsive wave cycle and may extend way much below 1692.40 or even lower. And should the price breakout beyond 1794.26, then this will be a good place we want to look for a possible long term buy position expecting the price to rally towards the upper trendline.
Trade Recommendations:
Expect a possible sell position towards 1661.80.
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