Last week, gold rallied to the lowerside and is still above the level 1866.90. This is a key level and while the price remains above it it, we are waiting for a rebound from the two lines, 1866.90-1871.44 to pick a possible long term buy position with the next ideal target set at 1985.73 and may breakout higher towards 2058.45. On the flipside, should the price break below 1866.90, then we're sellers towards the immediate lower trend line. and may likely break below it.
We're waiting for a buy from around 1866.90 towards 1985.73
Gas Weekly Review
Ealier this week, Natural gas gapped to the upperside and is now above 7.372. While the price remains above this level, I expect nothing but a possible momentum to the upperside. This is the continuation of an impulsive wave count and may see the price continue to the upperside towards 8.172 and may extend even higher. And on the flipside, should the price break below 7.272, then we're expecting further momentum to the lowerside towards 6.953 and may continue much lower.
We're watching for a buy from 7.372 and may extend much higher towards 8.172.
CAC40 Weekly Review:
Last week, the French Stock's index consolidated and ended up almost closing where it opened. As long as the price remains below 6469.5-6448.2, we are looking for a possible long term sell position and may see the price continue to the lowerside towards the lower trendline and may likely break below it. On the flipside, should the price break above it, then we are expecting further momentum to the upperside towards the upper trendline and may break above it. On the otherside, should the price break below the lower trendline, then further momentum much lower is expected.
We're sellers towards the lower trendline.