On the 4 hours chart attached, the SPX500 is currently heading to the upperside. As it is right now, i am expecting a possible break above the level 3831.8, if this level is broken, then further momentum to the upperside is expected towards 4129.4. On ths flipside, should the price break and close below 3565.1, then this could be a good place to look for a sell from.
Trade Recommendations:
We're watching for a possible buy above 3831.8 towards 4260.1
Gold weekly review:
Wave Analysis:
During the previous trading week, gold bounced off from the supportive level 1619.10, headed slighly to the upperside but coul not continue much higher. As it is right now, should the price break and close below the previous week's lowest low, then this could be the best place to consider looking for a possible long term sell position. A rebound from this level will be the best place to look for a possible long term buy position towards 1732.45 and will breakout much higher.
Trade Recommendations:
We're watching for buy positions.
Brent Oil weekly review:
Wave Analysis:
Brent oil continues to rally within the two trendlines and is not showing any signs of breaking out of it, as long as the price contiinues to rally within this expanding channel formation, we are loooking for sell positions, if the price breaks and closes above it, then further momentum to the upperside is expected with the neext ideal target set around 106.650 and will likely ccontinue much higher. On this cchart, keep looking for sell positions.
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