Gas Weekly Review
Wave Analysis
Earlier last week, Gas rallied to the lower side and even went below 2.091. As long as the price is held below this level, we expect nothing but a possible momentum to the lower side. The anticipated bearish price rally is the continuation of the impulsive wave (v) to the lower side and should break below 1.715. This bearish price rally is supported by the fact that the columns of MACD are below 0.0. As it is on this chart, only sell positions looks ideal and can be recommended, but should price break above 2.051, then we may consider buy positions.
Trade Recommendations:
Remain short with an ultimate target around 1.715.
Brent Oil Weekly Review
Wave Analysis
Earlier today, Brent oil gaped to the lower side and is still pretty much bearish both on the daily and on the weekly charts. Currently, Brent oil is approaching a major support trend line. As long as the price does not clear break and close below this trendline, we are waiting for a clear bounce from this trendline to pick a long term buy order. If the price breaks and close below this trendline, then further momentum to the lower side is expected with an ideal take profit fixed around 51.790.
Trade Recommendations:
Buy a bounce from this trendline or wait and sell a break below the same trendline towards 51.790.
Gold Weekly Review
Wave Analysis
Last week, Gold markets moved massively to the upper side and is still pretty much bullish both on the daily and on the weekly charts. As it is on the 4 hours chart attached, we expect a possible continuation of the impulsive wave (5) to the upper side and should break above 1594.41 towards 1620.20. This view can only be invalidated in case the price bounces from 1594.41, if this is the case, then further momentum to the lower side is expected towards 1527.95, if this is the case, then a momentum towards 1481.60.
Trade Recommendations:
Expect a possible momentum towards 1620.20.
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