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Remain long with #WTI

Remain long with #WTI | 17 September 2021

 #WTI weekly

Remain long with #WTI

Technical observation

The commodity on the weekly chart above is trading with an increasing bullish bias between a supportive zone 58.74-59.77 and a resistance level 76.73, my expectations is a rise to the key level 76.73 followed by either a clear breakout above it with a big green candle, or a rejection at it followed by another retracement to the zone I have mentioned above. My advice, if you are currently long with this pair, remain in the trade with your take profit at 76.73 and stop loss at. In case of a clear breakout above the level 76.73 with a big green candle, wait for a correction to the just broken line and a buy a bounce at it with your take profit at 93.72.

 Trade recommendation

 Remain long with your take profit at 76.73.

#Gas weekly

Remain long with #WTI

Technical observation

 The value of commodity on the chart above is currently trading with an increasing bearish bias, for two consecutive days now this pair has been trading with an increasing bullish bias and currently it is indicating a possible change in momentum. The anticipated change in the direction of movement of the value of the pair above is a retracement to the supportive level 4.398. My expectation is a bounce at the same supportive level confirming possible upwards movements. My advice, remain neutral and wait for  a pullback to the key level 4.398 and a buy a bounce at it with your take profit at 5.215 and stop at 4.127.

 Trade recommendation

 Remain neutral.

#XAUUSD weekly

Remain long with #WTI

Technical observation

#XAUUSD is trading with an increasing bullish bias between a supportive zone 1693.37-1682.43 and a resistance level 1976.02. If you picked long positions within the zone mentioned above and you are currently long, remain in the trade with your take profit at 1976.02 and stop loss at 1607.66. In case of a clear break above the resistance level 1976.02 with a big green candle, I expect a pullback to it followed by a bounce and further momentum to the upper side, on the flip side, in case of a clear penetration below the supportive zone 1693.37-1682.43 with a big red candle, I expect the value of this pair to plummet to the supportive level 1449.85.

 Trade recommendation

 

 Remain long with your take profit at 1976.02.

Imelda Maseno
Analyst of «FreshForex» company
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