Barclays Bank weekly Review
Wave Analysis:
Perfectly as previously forecasted, Barclays bank shares declined in value and is still pretty much bearish both in the weekly and the monthly charts. This week, and maybe for the rest of this month, we expect further decline in value but should not go beyond the weekly support seen at 10.72. As far as we're concerned, we still expect to remain short having our targets at 10.72 and the next target at 9.05. If these targets are broken, then further drop towards 7.75 is expected. This view can only be invalidated in case the price break above 11.95 with a big green candle, this being the case we expect a bullish momentum towards 16.85.
Trade Recommendations:
Remain short with your target at 10.72.
Deutsche Bank Weekly Review
Wave Analysis:
Just as Barclays bank, the shares of Deutsche Bank dropped in value but is currently around a key weekly support seen at 15.58. As long as this level protects the lower side, we expect a possible rebound from this level to buy the shares of this banking institution with our first target being 16.60. If this first target is taken out, then our next target will be set at 20.63. According to the current chart set up and structure, only long positions looks more and can be recommended with an ultimate target being 20.63.
Trade Recommendations:
Buy Deutsche Bank shares around 15.50 with take profit at 20.63.
Gold weekly Review
Wave Analysis:
During the previous month, Gold markets dropped considerable but still within our sellers territory. This month and even in the next few months, we expect a possible extension of the impulsive wave (c) to the lower side but should first break below 1026.45. This being the case, we'll be expecting further drop with an ultimate target being 717.00. If you did not short this metal during the previous week's forecast, you could wait for a second pullback towards 1329.47-1349.22 to pick a short position with your first target being 1026.45.00 and the next at 717.00.
Trade Recommendations:
Resell gold around 1349.22 with an ultimate target at 717.00
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