On the 4 hours chart shown above, gold is currently in an active bearish momentum. As long as the price remains below the two moving averages, I am looking at nothing but a possible momentum to the lowerside. The anticipated bearish price rally should be the continuation of the last impulsive wave (5) to the lowerside and may see the price break much lower towards 1616.05 and will likely head much lower. On this chart, keep looking for sell positions.
Wave Analysis:
The Brent oil is currently heading to the lowerside. As long as the price remains below the two moving averages but within the two moving averages, I am waiting for a rebound from the lower trendline to pick a buy position, or a break above the two moving averages to pick a possible long term buy position towards ultimate upper trendline. On this chart, we are in a sell zone, so, sell positions should be more ideal compared to buy positions, so, if you see a sell opportunity, its better to pcik it than to pick a buy positions. The anticipated bearish price rally is the continuation of the last impulsive wave (5) to the lowerside and may see the price break and close below 84.920.
Trade Recommendations:
We're sellers towards 84.920
Gas Weekly Review
Wave Analysis:
Overall, natural gas is in an active uptrend. as long as the price remains above the colored zone above, I expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the last impulsive wave (5) to the upperside and may see the price extend much higher with the next target set at
10.625 and may likely head much higher. On this chart, buy positions looks ideal and can safely be recommended, however, if the price breaks and closes below the same zone, then we may be looking for a long term sell position towards 6.446.
Trade Recommendations:
We're looking for long term buy position towards 10.626
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