Gold Weekly Review
During the previous trading day, Silver markets rallied to the lowerside and is now below the zone 22.582-22.253. As long as the price remains below this zone, we remain short, our idea is to wait for a pullback to the upperside to pick a low risk long term sell position with an ideal target set around 17.760. If this is broken, then further momentum much lower is expected with the next ideal target set around 15.90 and may extend much lower.
As long as the price remains below the zone 22.253-22.882, we expect nothing but a possible long term sell position.
SPX500 Weekly Review
According to the current chart structure and set up, we are 60% bullish. We are basically waiting for a possible correction to the lowerside to pick a possible long term buy position with an ultimate target set around 5000.00 and may extend much higher. If the price pulls back to the lowerside and breaks below the Alligator indicator, we expect nothing but a possible long term sell position, as it is now, only buy positions looks ideal and can safely be recommended.
We're buyers towards 5000.00.
German Stock's Index
During the previous trading week, German stock's index bounced off from the immediate lower trendline and is currently heading to the upperside. As long as the price remains above this trendline, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the last impulsive wave (5) and could see price head straight towards 16,000.00 towards 17k or even higher.