Gold weekly review
Wave Analysis
Last week, gold rallied to the upperside and even went above the upper trendlie. This is a break above a flag formation. As it is now, we are looking for long term buy positions expecting the price to break above 2035.00 and may push the price much higher with the next ideal target set at 3000.00 or even higher. The anticipated bullish price rally is the continuation of an impulsive wave count and could see price break and close above 2035.00 with the next target at 3k.
Trade Recommendations:
Look for long term buy positions
Dow weekly review
Wave Analysis
Dow is currently in an active up trend. As long as the price remains above the Alligator Indicator attached, we expect nothing but a possible momentum to the upperside. The anticated bullish price rally is the continuation of the impulsive wave (v) to the upperside and should break above 35134.00 towards 36k or even higher. On this chart, we are looking for long term buy positiosn. Sell positions looks a bit risky and may not be recommended.
Trade Recommendations:
Remain long with an ultimate target at 36k
Brent Oil weekly review
Wave Analysis
During the previous trading day, brent oil continued slightly to the upperside and is still pretty much bullish as it is now, we are looking for long term buy position. The anticipated bullish price rally is the continuation of the impulsive wave (v) to the upperside and should breakout above towards 85.064. As it is now, keep looking for long term buy positions. And in case, then price breaks below the supportive trendline, then further momentum to the lowerside is expected towards 45.63.
Trade Recommendations:
Remain long towards 73.054
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