During the previous trading week, Gold rallied to the lowerside but is currently approaching a significant support zone 1866.90-1871.44. This is a significant zone and while the last impulsive wave (c) dooes not clearly break and close below it. It remains to be a good place to consider a possible long term buy position. Otherwise, if the price breaks below it, then we are going to be looking for a buy along the immediate lower trendline.
Trade Recommendations:
We're watching for a possible buy.
Natural Gas Weekly Review:
Wave Analysis:
During the previous week, the impulsive wave (v) rallied to the upperside and is still pretty much bullish both on the daily and on the weekly charts. As it is right now, I expect nothing but a possible momentum to the upperside. Any rally to the lowerside will be a mere correction and should not go beyond 6.480. If the price breaks below this level, this level, then further momentum much lower is exppected.
Trade Recoommendations:
We're buyers
HSI Weekly Review:
Wave Analysis:
Last week, the Hong Kong Stock's iindex rallied to the lowerside and now is below the immediate lower trendline. While the price remains below this trendline, we expect nothing but a possible momentum much lower. The anticipated bearish price rally is the continuation of the impulsoive wave (c) to the lowerside and should see the price break below 16027.3 and may extend much lower towards 11173.8.
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