Gold Weekly Review
Wave Analysis
After a massive bearish correction earlier this month, Gold markets failed to break below the supportive level 1911.45. We expect this bounce to be the end of the corrective wave (iv) to the lower side and the beginning of the last impulsive wave (v) to the upper side and should breakout above the recent highest high 2065.65 towards 2100.00 or even higher. If you are looking at this chart now, expect a possible rebound from the supportive trend line to pick a low risk buy position with the stop loss below 1852.20.
Trade Recommendations:
Rebuy gold from around 1911.45 with your take profit at 2065.67 and stop loss below 1852.20.
Silver Weekly Review
Just as gold, silver is in an active up trend. While the price remains above the Alligator indicator attached, we expect nothing but a possible momentum to the upperside. Ealier this month, the price bounced off from the 38.2% fib level; and is currently heading to the upperside, if you are looking at this chart now, we need to look for long term buy positions towards 29.05 or even higher. This view can only be rendered futile in case the price breaks below the 38.2% fib level, if this is the case, then a move downwards is likely.
Trade Recommendations:
Look for buy positions.
Apple Shares
Wave Analysis
Apple shares are in an active up trend. While the price is held above the Alligator indicator attached, we expect nothing but a possible momentum to the upperside, the anticipated Bullish price rally is the continuation of the impulsive wave (v) to the upperside and should breakout above 508.65 towards 510.00 or even higher. If you are looking at this chart now, keep looking for long term buy positions. You could wait for a minor pullback to pick a low risk buy position expecting price to continue much higher.
Trade Recommendations:
Remain long.
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