Last week, Gold markets rallied to the lowerside and is now approaching a significant supportive zone 1700.13-1678.35. If the price can break and close below this zone, then this will be a sign that we are extending much lower with the next ideal target set around 1482.37 and may continue much lower. The idea here is to keep looking for long term sell positions in case of a break below 1700.13. A bounce from the same zone will push price to the upperside towards 1994.53 and may continue much higher.
We're sellers towards 1700.13.
Natural Gas Weekly Review:
Wave Analysis:
Last week, Natural gas pulled back to the upperside after bouncing off from 5.251, and is now approaching the zone 6.640-6.505. If the price bounces off from this zone, then this may be a good place to consider a possible sell position from. If the price breaks and closes above it, then we expecct further momentum to the upperside and may see the price extend much higher with the next ideal target set at 8.130 and may likely continue much higher.
Trade Recommendations:
We're watching for a possible break above 6.640 and may likely continue higher.
CAC40 Weekly Review:
Wave Analysis:
CAC40 bounced off from the zone 5643.5-5800.0 and may likely continue to the upper side. While the price does not break below this zone, we are watching for a possible long term buy position towards the upper trendline and should bring an end to the corrective wave IV. If the price bounces off from this trendline, then this will be the correct place to sell the last impulsive wave V towards 5643.5-5800.00 and may likely continue much lower. Only a clear breakout above the upper trendline will attract a possible long term buy position.
Trade Recommendations:
We're expecting a possible bullish momentum towards the upper trendline.
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