Buy #HSI within 26328-25947 | 19 March 2021

 # Brent weekly

Buy #HSI within 26328-25947

Technical observation

The commodity on the weekly chart above is trading with an increasing bullish bias below a resistance level it established at 71.16. However, I expect a momentum to the lower side to the supportive zone 52.81-51.28. This anticipated bearish movement is a correction to the zone mentioned above and I expect a loss of it within the zone for bullish movements. My advice, wait for a correction to the zone 51.81-51.21 and buy a bounce within it with your take profit at 76.16 and stop loss at 43.53. Should there be a clear breakout above the line 76.16 with a big green candle, you can anticipate a further rise towards 118.61.

 Trade recommendation

Wait for a correction to 52.81-51.28 to buy # Brent.

# WTI weekly

Buy #HSI within 26328-25947

Technical observation

#WTI is trading below a level 66.57, my expectation is a decline to the supportive zone 43.83-42.41 followed by a bounce within it for a possible surge to the upper side. My advice, remain neutral and wait for a correction to the zone mentioned above to buy this commodity with your take profit at 66.57 and stop loss at 33.80. In case this commodity rise above the level 66.57 with a big green candle, I anticipate further bullish movements towards the resistance line 86.28 or even higher to the to the key level 113.38. As it is on the chart above, I can only recommend short positions below the zone 43.83-42.41 towards 9.77.

Trade recommendation

 Remain flat.

#HSI weekly

Buy #HSI within 26328-25947

 

Technical observation

 For several weeks now, #HSI has been declining steadily towards the supportive zone26328-25947, I expect a loss of this bearish movement within the same zone for a rally to the upper side. My advice, wait for a retracement to the zone 26328-25947 to buy #HSI with your take profit at 31087 and stop loss at 24079. If this take profit is hit and there is a clear breakout above it with a big green candle, wait for a correction to it and a bounce confirming further bullish movements of this commodity before you continue long towards 33285. Bearish movements can only be anticipated in case of a clear breakout below 26328-25947.

 Trade recommendation

Buy #HSI within 26328-25947.

Imelda Maseno
Analyst of «FreshForex» company
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