Remain neutral temporarily with Gold | 01 October 2021

#WTI weekly

Technical observation

#WTI has been rising steadily for several weeks now towards the resistance level 76.73, currently, the value of this commodity is trading with an increasing bullish bias below the level mentioned above and my expectation is either rise to the same line followed by either a clear breakout above it with a big green candle, or a bounce at it followed  by another retracement to the supportive zone 59.77-58.74, if you are currently holding bullish positions with this commodity, remain in the trade and pick your profits at the level 76.73, however, if you are currently neutral, wait for either another correction to the supportive zone 59.77-58.74 or a break above the level 76.73 to buy #WTI.

 Trade recommendation

 Remain long with your take profit at 76.74.

#XAUUSD weekly

Technical observation

For the past three consecutive weeks the value of the commodity on the weekly chart above has been trading with an increasing bearish bias, this bearish movement is a retracement to the supportive zone 1693.37-1682.43 and I expect a loss of this downwards movement within it for a surge to the upper side. My advice, remain neutral and wait for a correction to the zone 1693.37-1682.43 and buy a bounce within it with your take profit at 1976.02. As long as the value of the commodity on the chart above is sustained above the supportive zone 1693.37-1682.43, I can only recommend bullish positions for #XAUUD.

 Trade recommendation

 Remain neutral temporarily.

#Gas weekly

Technical observation

#Gas broke above a key level 4.607 and since then is has been rising steadily towards the resistance level 5.675.Despite this upwards movement I expect a retracement to the supportive level 4.607 followed by a rejection at it to pick long positions. In case of a clear penetration above the resistance level 5.675 with a big green candle, I anticipate a further increase in the value of this pair towards 7.354, on the other hand in case of a break below the supportive level 4.607 with a big red candle, my expect the value of this commodity to plummet to the lower supportive zone 3.429-3.420 after a retracement to the broken line.

 Trade recommendation

 Wait for a correction to the level 4.607 to buy #Gas.