Silver in A corrective mode
Wave Analysis
During the previous week, the impulsive wave (c) continued massively to the lowerside and is still pretty much bearish both on the daily and the 4 hours chart. We're expecting a possible break below the 17.220 to pick a long term sell. The anticipated bearish price rally is the continuation of the impulsive wave (c) and should break below 17.220 with an ultimate target at 15.090. This view can only be invalidated in case the price fails to break below 17.220, if this is the case, then a rally to the upper side is expected.
Trade Recommendations:
Wait for a break below 17.220 to pick a long term sell.
Gold Review
Wave Analysis
Few days ago, Gold corrected itself to the lowerside but is still above the level 1477.30. We're waiting for a possible bounce from within 1477.30 and 1492.52, if this is the case, then this will mark an end to both the impulsive wave (c) and the larger corrective wave (iv), and end to this waves will be the beginning of the next impulsive wave (c) to the upperside and should break above 1564.80. This view van only be invalidated in case the price breaks below 1477.30, if this is the case, then a momentum to the lower side is expected.
Trade Recommendations:
Wait for a buy from 1477.30.
Wave Analysis
During the previous trading week, Lukoil bounce off from 5023.0 and is currently heading to the upperside, we expect the bounce from 5023.0 to have marked an end to both the corrective thee wave cycle and the larger corrective wave (iv) that the current bullish price rally is the continuation of the impulsive wave (v) and should first break above the previous week's highest towards 5980.0, a break above the last target could push the price even higher with the nest ideal take profit at 6000.0.
Trade Recommendations:
Buy Lukoil towards 5980.0
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