Gold Weekly Review
Wave Analysis
During the previous week, Gold markets rallied steeply to the upper side but could not break above the upper trend line. As long as the corrective three wave cycle fails to break above the upper trend line, we are expecting the bounce from the upper trend line to be an end to the corrective three wave cycle and could push the price to the lower side towards 1662.80. But on the flip side, should the price break above the upper trend line, then further momentum much higher is expected towards 1780.60.
Trade Recommendations:
Look for sell positions towards 1669.80.
Silver Weekly Review
Wave Analysis
For the past three weeks, silver has been on the loosing end. As long as the price is held above the Alligator trend indicator, we expect nothing but a possible momentum to the upper side, should the price break and close below the blue line, then we will expect nothing but a possible momentum to the lower side, and in case the price break and close above the previous week's highest high, then further momentum to the upper side and should break beyond 19.00 towards 21.00 or even higher.
Trade Recommendations:
Wait for a bounce from the blue line to pick a long term buy position towards 20.00.
NASDAQ100 Weekly Review
Wave Analysis
Since Earlier April, NQ100 has been in an active up trend. And while the price is held above the alligator indicator attached, I expect 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 the recent highest high towards 10300.0 towards 10400.00 or even higher. And should the price break and close below the blue line, then further momentum to the lower side is expected towards 8379.0.
Trade Recommendations:
Remain long towards 10300.00.
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