Remain flat with #SP500 | 23 July 2021

 #WTI weekly

Remain flat with #SP500

Technical observation

#WTI is trading with an increasing bearish bias below a resistance level 74.80, I expect this downwards movement to continue to the supportive zone 59.77-58.74 followed by a bounce within it to pick long position. My advice, remain flat and wait for a correction to the zone 59.77-58.74 and buy a bounce within it with your take profit at 74.80 and stop loss at 51.93. On the weekly chart above, as long as the value of #WTI is sustained above the zone 59.77-58.74, I can only recommend bullish positions for this pair. However, in case of a clear penetration below the same zone with a big red candle, I can recommend short positions.

 Trade recommendation

 Remain flat.

# BTCUSD weekly

Remain flat with #SP500

Technical observation

The commodity on the chart above is trading with an increasing bullish bias within the supportive zone 31925.99-30860.26; this bullish movement is a correction to the resistance level 45188.49. My expectation is a momentum to the resistance line I have mentioned above followed by a rejection at it to pick short positions with my take profit at 31925.99 and stop loss at 50280.34. In case the value of this commodity declines and penetrate below the supportive zone 31925.99-30860.26 with a big red candle, I expect a correction to the just broken zone followed by a rejection within it for a further surge to the supportive level 18005.03.

 Trade recommendation

 Wait for a correction to the level 45188.49 to sell #BTCUSD.

#SP500 weekly

Remain flat with #SP500

Technical observation

 The commodity on the weekly chart above is trading with an increasing bearish bias below a key level 4362.4, this bearish movement is a correction to the supportive level 3697.3 and I expect a steady momentum to the key level 1697.3 followed by a rejection at it to pick long positions with my take profit at 4362.4. If the value of this commodity is not contained above the level 3697.3 and instead it clearly penetrates below it with a big red candle, I anticipate a surge to the lower side after a pullback to the just broken line. Right now remain flat and wait for a correction to the supportive level 3697.3 to buy #SP500.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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