Start
trading

Main >
Analytics
>
Fresh forecast
>
Forex Technical Analysis: Trend potential
>
We're long with #Gas towards 3.421

We're long with #Gas towards 3.421 | 09 April 2021

#WTI weekly

 We're long with #Gas towards 3.421

Technical observation

The commodity on the weekly chart above is trading with an increasing bearish bias between a supportive zone 52.70-51.80 and a resistance line 66.45, I expect a decline to the zone mentioned above followed  by a rejection within it to pick long positions. My advice, remain neutral with #WTI and wait for a correction to the zone mentioned above and a bounce within it to buy this commodity with your take profit at 66.45 and stop loss at 46.01. In case of a breakout above the line 66.45 with a big green candle, wait for a correction to the just broken line and a bounce at it before you continue long towards the level 81.22.

 Trade recommendation

Remain flat.

#Gas weekly

We're long with #Gas towards 3.421

Technical observation

#Gas is trading with an increasing bullish bias above a supportive zone 2.299-2.234, I expect this bullish movement to continue to the resistance line 3.421 followed a clear breakout above it with a big green candle. My advice, if you are currently long with this commodity, remain so with your take profit at 3.421 and stop loss at 1.971. In case of a clear breakout below the zone 2.299-2.234 with a big red candle, you can anticipate a possible momentum to the lower side after a correction to the just broken zone and a rejection within it, however as long as price is contained above the same zone I expect only bullish movements .

 Trade recommendation

 Remain long with your take profit at 3.421.

#XAUUSD weekly

We're long with #Gas towards 3.421

Technical observation

Last week the commodity on the weekly chart above declined and is still showing signs of declining even further to the supportive level 1449.85. If you sold #XAUUSD within the zone 1784.55-1762.66 after a bounce, remain short with your take profit at 1449.85 and stop loss at 1855.66. In case of a breakout above the zone mentioned above with a big green candle, wait for a correction to it and a bounce confirming a possible momentum to the upper side before you pick long positions with your take profit at 1964.13. As it is on the chart above, as long as price is contained below the zone 1784.55-1762.66, I can only recommend short positions.

 Trade recommendation

 Remain short with your take profit at 1449.85.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:

Close
Log in

Show password

Hide password

 Forgot password?
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .

Our best awards:

FreshForex is a brand that provides access to online trading for clients from more than 158 countries all over the world. The Company's partners are the licensed European liquidity providers, banks, payment aggregators and systems with which the company has been cooperating for more than 19 years.
Clients must be at least 18 years old to use the services of the Company.
The company's services and information on the site are not intended for citizens and residents of some countries, such as Belgium, China, North Korea, France, Hong Kong, Russian Federation, Spain, Great Britain, USA, and also countries identified by the FATF as high-risk countries or countries with serious AML/CFT deficiencies; countries or regions that are under international sanctions. A complete list is available on the "Countries where the company's services are not provided" page. The Company does not have representative offices in the Russian Federation and does not register clients from the Russian Federation.
Risk Warning: Trading financial instruments with leverage carries high risks and can result in both profits and losses. Potential losses are limited by the deposit amount. Before deciding to trade, the client should assess their risk tolerance, experience, and knowledge level.

Freshforex.com uses cookies for better website operation, traffic flow analysis, and personalization. By using this website you agree to our Cookie Policy.
User Data privacy is protected in accordance with GDPR. The SSL certificate installed on the website transfers the information over a secure protocol.
The site contains links to websites of third parties. The Company does not check or control the third-party resources that are in any way related to the FreshForex site, so the Company is not responsible for any third-party information or materials posted.
By creating a link to a third party website, the Company does not endorse or recommend any products or services offered by the third party.
The website content is intended for informational purposes only. It should not be regarded as an offer or solicitation to any person in any jurisdiction in which such an offer or solicitation is not authorized. It also should not be considered as an offer/solicitation to any person to whom it would be unlawful to make such an offer or solicitation, nor regarded as a recommendation to buy, sell or otherwise deal with any particular currency or any other trading asset investment. If you are not sure about your local trading regulations, please, leave this website immediately.
© 2004—2024 FreshForex – Forex broker
Reproduction of the contents is allowed only with active hyperlink to original source.
Riston Capital Ltd (20623 BC 2012) with registered address at Suite 305, Griffith Corporate Centre, Beachmont, P.O. Box 1510, Kingstown, Saint Vincent and the Grenadines.