Gold Weekly Review
After rebounding from the monthly resistance line 1384, Gold has been rallying to the lowerside and is still pretty much bearish. As long as this level protects the upperside, we expect a possible extension to the lowerside with an ultimate target at 1013.75. If this target is broken, then further momentum to the lowerside. This view can only be invalidated in case the price breaks above 1384.79, and even then, we’ll need a confirmation that the price will continue to the upperside with the next ideal target at 1811.
We’re short .
HSI Weekly Review
During the previous trading week, Hong Kong Stock index traded intensely to the lowerside and even went below a key weekly support level 28769. This was a main move and as long as the price remains below this level, we expect the corrective wave (4) to stretch further to the lower side but should not go beyond the end of the first impulsive wave (1). However, should the price again get above 28564, then we will be expecting, then we expect the impulsive wave (5) to spike upwards with an ultimate target at 33854.
Buy HSI above 28564.
German Stocks Index weekly Review
No significant move was seen on this crypto for sometimes now, the German stock’s index is still rallying above the weekly resistance level 12035. As long as the price remains above this level, we expect a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upperside and should break above 13849. This view can only be invalidated in case the price breaks below 12035. If this is the case, then we expect this downward rally to be a correction of the previous five wave cycle.
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