After breaking above the upper trendline, the Dow rallied to the upperside and even attempted to break above 34195 but could not break and close above it. As it is right now, I am waiting for a rebound from the level 34195 to pick a possible long term sell position with the first target set at 31437 and the next target set at 28657. If the price breaks and closes above 34195, then this will be a good place to consider a possible long term buy order.
Trade Recommendations:
We're on a sellers side towards 31k.
#HSI Weekly Review
Wave Analysis:
During the previous trading week, HSI rallied to the upperside and even went above 18563.6. As long as the price remains above this level, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of a corrective three wave cycle and may see the price rally towards 22810 and may rally much higher. On this chart, buyers are in complete control. Otherwise, if the price breaks and closes below 18563.6, then we may be looking for sell positions.
Trade Recommendations:
We're buyers towards 22810.5.
Gold Weekly Review:
Wave Aanlysis:
After a rebound from the level 1810.99, gold rallied to the upperside but failed to break above the ceiling 1810.99. This is a good resistance level and while the price remains below it, we are waiting for a reboundd from it to pick a possible long term sell position towards 1756.30 and may rally much lower towards 1674.83.
On the flipsidem hould the price break and close above 1810.99, then further momentum to the upperside is expected with the next ideal target set around 1900.
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