#WTI weekly
Technical observation
On the weekly chart above, #WTI is trading with an increasing bearish bias within the resistance zone 65.03-64.13. I expect this downwards movement to continue to the supportive level 43.17 followed by a clear breakout below it. If you sold this commodity within the zone mentioned above, remain short with your take profit at 43.17 and stop loss at 71.85. Should there be a clear breakout above the zone 65.03-64.13 with a big green candle, wait for a retracement to it and a bounce confirming a possible momentum to the upper side before you pick long positions. Right Now as it is on the chart above, I can only recommend short positions.
Trade recommendation
Remain short with your take profit at 43.17.
#Gas weekly
Technical observation
The commodity on the chart above has been rising steadily since it bounced at the supportive zone 2.490-2.437; buyers are still in control of the market and in case of a clear penetration above the resistance level 3.432, I expect momentum to increase to the upper side. If you are currently long with this pair, remain so with your take profit at 3.432. In case there is a clear breakout above the level 3.432 with a big green candle, wait for a correction to it and a bounce before you continue long with this pair towards the upper resistance level 4.621. In can only recommend short positions below the zone 2.490-2.437 in case of a breakout.
Trade recommendation
Remain long with your take profit at 3.432.
# XAUUSD weekly
Technical observation
The commodity on the chart above has been rising steadily since it bounced at the supportive zone 2.490-2.437; buyers are still in control of the market and in case of a clear penetration above the resistance level 3.432, I expect momentum to increase to the upper side. If you are currently long with this pair, remain so with your take profit at 3.432. In case there is a clear breakout above the level 3.432 with a big green candle, wait for a correction to it and a bounce before you continue long with this pair towards the upper resistance level 4.621. In can only recommend short positions below the zone 2.490-2.437 in case of a breakout.
Trade recommendation
Remain long with your take profit at 3.421.
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