Gold Weekly Review
Wave Analysis
During the previous week, Gold rallied to the upperside and is still above the Alligator indicator, as long as the price remains above the Alligator indicator, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of an impulsive wave count and could see price break above 1970.80 and may push itself much higher towards 2000.00 or even higher. On the flipside, should the price break below the level 1681.00 and may push the price much lower towards 1501.00 towards 1321.21.
Trade Recommendations:
Remain long towards 1970.80.
Dow Weekly Review
Wave Analysis
Dow continues to rally within the Alligator indictor and is not showing any signs of rallying to the upperside as previously expected. As long as the price remains above the black Alligator line, we are long term buy positions, however, should the price break below the black line, then we will be looking for long term sell positions expecting the price to break below 322889 towards 30614 towards 29k. On the upperside, we are looking for a possible rally to the upperside with an ideal target set around 35k and may breakout much higher.
Trade Recommendations:
Remain long towards 35k.
WTI Weekly Review
Wave Analysis
On this chart, as long as the last impulsive wave (v) is not able to break above the end previous impulsive wave (iii), we are looking for a possible long term sell position from around 66.679. A breakout and close above this level will push the last impulsive wave (v) to the upperside towards 67.90 and may extend much higher towards 70.00 or even higher. On the otherside, if the price breaks below the Black trendline, then this will be a good place to consider a possible long term sell position with an ideal target set at 55.365.
Trade Recommendations:
Wait
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