German Stocks Index Weekly Review:
Wave Analysis
Perfectly as previously forecasted during the beginning of this month, German stocks index have gained a considerable value and is still pretty much bullish both on the weekly and the monthly charts. As long as the price remains above the support level 11925.0, we expect a possible bullish price rally, the anticipated bullish price rally is the continuation of the impulsive wave (5) to the upper side and may break above 13582.0 towards 15000.0. Temporarily, we expect possible pullbacks to the lower side before move to the upper side is seen.
Trade Recommendations:
Remain long with the first target at 13582.0.
Hang Seng Index Weekly Review
Wave Analysis
Following last week’s bullish pin bar candle, hang Seng index rallied higher perfectly as expected and is still pretty much bullish both on the daily and the weekly charts. Previously, we had expected a drop towards 28564, but as it appears, this index could rally higher and may breakout above 33245 towards 35000.00. The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upper side and should not break above 33245 during this week. Alternatively, should the price rally lower, then the best place to buy this index is 28564.
Trade Recommendation:
Remain long towards 33245.
Spot Gold Weekly Review
Wave Analysis
After an unprecedented rise to the upper side, Gold bounced off from the upper trend line acting as the resistance to the converging wedge formation. We expect Spot gold to loose value especially while it remains below the upper resistance trend line. If you’re not short already, you could wait for a pullback to the upper side to pick a short position with your stop above last week’s highest high. Our expectations is that the price should continue lower and should break below the lower trend line towards 1253.50.
Trade Recommendations:
Sell Spot gold upon a rebound from the upper trendline towards the lower trendline
