Brent Weekly Review
Wave Analysis:
Perfectly as previously forecasted almost 4 months ago, Brent oil has been trading on the higher ranges and is still pretty much bullish both on the daily and weekly charts. During this week and in the next few weeks we expect a possible extension of the impulsive wave (c) to the upper side and should breakout above 68.41 towards 82.20. This view can only be invalidated in case the price fails to sustain the break above, if this is the case, then we expect a possible bearish price movements towards 61.65 or even lower. This commonality should be traded alongside Canadian pairs, the price of oil significantly affect Canadian pairs.
Trade Recommendations:
Wait for a clear breakout above 68.41 to rebuy brent towards 82.20.
Bitcoin Weekly review
Wave Analysis:
Bitcoin is still rallying on the lower ranges despite the previous expectations that it could continue rising. During this week and in the new few weeks, we expect a break below $13,000.00 handle and a possible extension of the corrective wave (b) to the lower side but should not go beyond 5571.00 where we'll be looking to rebuy bitcoin. However, as long as the $13,000.00 still protect the lower side, we expect a possible rebound from this level to long this cryptocurrency with an ideal target at $19,000.00 or even higher. This cryptocurrecy should be traded alongside others such as Ripple, Etherium, litecoin and others.
Trade Recommendations:
As long as the price remains above $13,000.00 look for a possible long position towards $19,000.00.
SPX500 weekly review
Wave Analysis:
SPX500 is currently trading with an increasing bullish momentum. Inline with what was previously forecasted, we expect further momentum to the upper side and may break above $2900.00 towards $3000.00 or even higher. Last week, this index rose massively and chances of pulling back this week are very higher, thus, instead of buying this index now, we're waiting for a pullback to rebuy this index, the anticipated bullish price movement is the continuation of the impulsive wave (5) to the upper side with an ultimate target at $3000.00. This index should be traded alongside other indices such as NASDAQ and ASX and others.
Trade Recommendations
Wait for a pullback to rebuy SPX500 with your target at $3000.00
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