Gold Weekly Review
XAUUSD is currently very bullish. This pair is in a corrective phase with the ABC corrective pattern. It has moved very impulsively to the upside for the better part of last week. Currently, the price is at a minor wave 'a' at 1923.46. We anticipate the price to form the minor corrective wave 'b' and expect it to move downward (a short-term move) with our target at the support zone 1866.03. This is our target for the minor corrective wave 'b'. You can place a short position now with your target set at 1866.03.
Trade Recommendations:
We're watching for short term sell positions
Silver Weekly Review
XAGUSD has been very bullish for the better part of last week. This pair is in an impulsive phase, and currently, we can see that the price is at major wave "IV," 22.696. This zone represents a major resistance area. We expect the price to drop from this zone impulsively to the upside, targeting 19.837, which is our goal for the major impulsive outer wave "V". You can initiate a short position now with a target of 19.837. Please note that this setup will be invalidated if the price breaks and closes above the resistance zone at 22.696.
Trade Recommendations:
We're sellers for now
SPX500 Weekly Review
The SP500 is currently very bearish. The price was strongly rejected at the resistance zone at 4395.5 within the major outer wave "V". This pair is in a bearish impulsive phase, and from the chart above, we can observe that the price is currently within the major outer wave "V," with our target set at the support zone at 4144.8. You can place a short position with a profit target ranging from 4217.2 to 4144.8. Please note that this setup will be invalidated if the price breaks impulsively and closes above 4395.5.
Trade Recommendations:
We're sellers for now
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