Gold Weekly Review
Wave Analysis
Gold is currently consolidating in an upward manner, according to the average true range indicator attached, we are basically waiting for a break out to pick a good trading, if the Main handle for the ADX can break above the 25 mark, then this will be a good place to consider a possible long term buy position. The anticipated bullish price rally is the continuation of the current impulsive five wave cycle and could see the price break beyond 1735.70 towards 1765.54, only a break below the supportive trendline will push the price to the lower side.
Trade Recommendations:
Buy a break above the upper trendline towards 1765.40.
Silver weekly Review
Wave Analysis
Last week, Silver broke above the upper trend line and is currently heading to the upperside, As long as the price is held above the upper trendline, we expect nothing but a possible momentum to the upperside, the anticipated bullish price rally is the continuation of the impulsive five wave cycle and could see price break beyond 15.560 towards 15.790. As it is now, wait for the corrective wave (2) to pullback towards the just broken line to buy the last impulsive wave (3) with an ultimate target around 15.900.
Trade Recommendations:
Wait for a pullback to pick a possible buy position towards 15.900.
German Stock's Index Weekly Review
Wave Analysis
German stocks index is currently rallying to the upper side, while the Average Direction index is above the level 25, we expecting nothing but a possible momentum to the upper side, the anticipated bullish price rally is the continuation of the impulsive wave (v) and should break above 11229.0 towards 11474.0 towards 12k. This view can only be invalidated in case the price breaks below the 10k handle, of this is the case, then further momentum to the lowerside is expected with an ultimate target around 9255.0.
Trade Recommendations:
Look for buy positions towards 11474.0.
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