Re-buy gas around 2.608
In the year 2016, the price used the zone 2.608-2.549 as a key weekly support level and could not break below it. In December 2017, and earlier this year, the price used the same zone a a key support, as long as this zone protects the lower side, we expect it to act as a key place for long term buyers with an ultimate target at 4.500. The anticipated bullish price rally is the unfolding of the impulsive wave (c) to the upper side and should first break above 3.463 towards 4.380 but should not break above 4.500.
If you’re not long already, you could rebuy gas around 2.608 with your target at 3.463.
Silver To Plunge further towards
Since December 2016, the price has remained confined within the contracting wedge formation and is still pretty much within this shape formation. In December last year, the price attempted a break below the lower trendline acting as the support to the contracting wedge formation but failed to break below. On the daily chart above, we’re waiting for a break below 16.20, to confirm further bearish rally towards this trendline, however, if you’re a bit skeptic to look for short position, you could wait for a rebound from the lower trendline to pick a log position.
Sell silver below 16.20 towards the lower trendline.
Gold sellers are gaining the upper hand
Perfectly as forecasted last month, Gold markets attempted a break above 1330.40 but ended up closing below it. As long as this level protects the upper side, we expect this level to be a perfect sell place, thus, we’ll waiting for a rebound from this zone to pick long term short positions with an ultimate target at 980.37. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lower side and should first break below 1095.30, before heading towards 980.38. This view can only be rendered futile in case the price breaks above 1330.40.
Look for long term short positions now, with our target at 980.37