Sell #HSI within 25286-25052 | 30 October 2020

 #ASX weekly

Sell #HSI within 25286-25052

Technical observation

#ASX penetrated above the zone 6148.7-6099.7 with a big green candle. Last week, this commodity retraced to the just broken zone but did not reach. However, it is still showing signs of rallying downwards. I anticipate bearish movements this week towards the zone mentioned above followed by a rejection within it for a momentum to the upper side. My advice, wait for a correction to the zone6148.7-6099.7 and a rejection within it to buy #ASX with your take profit at 6893.3 and stop loss at 5854.1. As it is on the weekly chart above, you can only anticipate bullish movements of this commodity.

 Trade recommendation

Buy #ASX within 6148.7-6099.7 with your take profit at 6893.3.

#HSI weekly

Sell #HSI within 25286-25052

Technical observation

 For several days now, the commodity in the weekly chart above has been trading with an increasing bullish bias towards a resistance zone 25286-25052. My expectation is a loss of this upwards movement within the zone mentioned above for bearish rally towards the supportive level 21500. My advice, wait for a correction to the zone 25286-25052 and a rejection within it to buy #HSI with your take profit at 21500 and stop loss at 26784. Should there be a clear breakout below the line 21500 with a big red candle, you can anticipate a further surge to the lower side towards the key level 18652.

Trade recommendation

 Sell #HSI within 25286-25052 with your take profit at 21500.

#ESTX50 weekly

Sell #HSI within 25286-25052

Technical observation

 #ESTX50 is retracing to a supportive zone 3151.2-3127.2. My expectation is a loss of this bearish movement within the zone to buy this commodity; however, it can still break below the same zone with a big red candle.  My advice, wait for a rejection within the zone mentioned above to buy #ESTX50 with your take profit at 3515.0. In case of a break below the zone 3151.2-3127.2 with a big red candle, wait for a correction to it and a bounce confirming bearish moments if this commodity before you short this commodity. On your way downwards the key levels to look for include; 2717.2 and 2349.8.

 Trade recommendation

 Wait for a bounce within 3151.2-3127.2 to buy #EXTX50.

Imelda Maseno
Analyst of «FreshForex» company
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