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Weekly Bonus Analysis [Video]
Weekly Bonus Analysis Video: S&P500, Gold and WTI Crude (5 min)
TEXT:
Hello everybody ..welcome to our Weekly Bonus Analysis Video ..I’m Stef Breschi and today is Monday 28th September 2015. Today we’ll be looking at the SP500 and Gold which we have got spot on in recent weeks and WTI Crude which we also successfully predicted last week
S&P500
(Daily Chart) 2 weeks ago we suggested that price would trade inside a box range 2000-1900 which is exactly what happened .. and in last week’s video we recommended to our readers to go short on a re-tracement of the red candle from Friday 18th .. and we were spot on!
Monday last week price retraced the previous Friday’s candle and rotated to the downside in the 1960-65 area, finally reaching 1900 on Wednesday as predicted. So our readers enjoyed a 60$ profit from this recommendation.
Now there is major indecision at this 1900-1910 support but with our Fundamental team now short term bullish, we will be looking for a signal to go Long in this area for a re-test of 2000 and possibly beyond.
GOLD
(Weekly) Weekly chart shows price chopping around 1140$ which is a significant level. Medium to long term picture is neutral here
(Daily) Short term, in our video to subscribers 2 weeks ago we recommended going Long around 1100-1110 looking for a re-test of 1148-1150 area, which is exactly what the market did. So we successfully predicted this 50$ gain.
Now we remain short term bullish but we see the market retracing to test dynamic support at the rising 50 sma where we will be looking for a price action signal to go Long in the 1120-1125 area.
WTI CRUDE
(Daily Chart) 2 weeks ago we identified Crude as trading in a triangular consolidation pattern .. last week we successfully predicted a re-test of the bottom of this pattern around 43.50$. Price then bounced at this level but met with selling at the top of the pattern once again. With the right edge of this triangle getting smaller and smaller we see an imminent breakout either way.
So we’ll look for a price action signal between 43.50 and 44.50 this week, keeping our readers informed accordingly.
Thank you for watching .. please take a look at our subscription service STTS (Short Term Trade Setups) which covers also gold and the major currencies and includes entry levels, stops and targets combined with our tried and tested risk management strategyCome and find us on tff-onlinetrading/market analysisHave a great week!
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