Last week, the Brent oil rallied to the lowerside and is currently around a significant supportive zone 92.552-85.500. As long as the price does not break and close blow this zone, we are watching for a possible rebound from this zone to pick a possible long term buy poisition with an ultimate target set at 131.092, in case the price breaks below 92.552, then we will be waiting for a break below 85.500 to pick a possible long term sell position towards 70.00 and may likely continue lower.
We're watching for a rebound from the zone 92.552 -85.500 to pick a possible long term buy position towards 131.092.
SPX500 Weekly Review:
Wave Analysis
Last week, the SPX500 rallied to the upperside and is now approaching the resistance zone 4147.9. As long as the price does not break and close above this line, I expect nothing but a possible long term sell position towards 3663.8. In case the price breaks below this line, then expect further momentum to the lowerside. On the flipside, should the p[rice break and close above 4147.9, then we will be expecting further momentum to the up[perside with an ultimate target set at 4833.8 and may likely extend much higher.
Trade Recommendations:
Watch for a rebound from 4147.9 to pick a sell or a break above it to pick a long term buy position towards 4833.8.
HongKong Stock's index:
Wave AnalysisThis index is currently rallying within a range. As long as the price does not break below the lower trendline, we are waiting for a rebound from it to pick a possible long term buy position towards the zone 22743.5-22570.0 and may likely break and close above it. If the price rebounds from it, then this will be a good place to consider a possible sell position. Also, a break below the lower trendline, will be a good place to consider a possible sell position.
Trade Recommendations:
Buy a rebound from the lower trendline towards the zone 22743.6-22570.0 and may break above it.
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