We are neutral with #NIKKEI | 08 October 2021

#WTI weekly

Technical observation

The commodity on the weekly chart above rose up to the resistance level 76.73 but could not break above it, it bounced below the level and is currently trading with an increasing bearish bias, this bearish movement is a retracement to the supportive zone 59.77-58.74 and I expect it to continue to the same zone followed by a rejection within it for a rally to the upper side. My advice, remain flat and wait for a retracement to the zone I have mentioned above and buy a bounce within it with your take profit at 76.73 and stop loss at 51.93. As long as the value #WTI is sustained above the zone 59.77-58.74, I can only recommend bullish positions.

 Trade recommendation

 Remain flat.

#NIKKEI weekly

Technical observation

 For the past two consecutive weeks the value of the commodity on the chart above has been declining steadily towards the supportive zone 27414-27159, I expect a continuation of this bearish movement to the same zone followed by a bounce within it to pick long positions. Right now as it is on the chart above remaining neutral is ideal than picking any positions; my advice, wait for a correction to the zone 27414-27159 and buy a bounce within it with your take profit at 30801 and stop loss at 25879. In case there is a clear breakout below the zone I mentioned above with a big red candle, I anticipate a surge to the lower side after a retracement to the broken zone.

 Trade recommendation

 Remain neutral.

#XAUUSD weekly

Technical observation

 The commodity on the chart above is trading with an increasing bullish bias above a supportive zone 1693.37-1682.43, despite this upwards movement my expectation is a retracement to the zone I have mentioned above followed by a rejection within it to pick long positions with my  take profit at 1976.02 and stop loss at 1587.61. In case of a clear break above the resistance level 1976.02 with a big green candle, I expect the value of this commodity to plummet further to upper side, on the flip side, in case of a penetration below the supportive zone 1693.37-1682.43 with a big red candle; I expect a momentum to the supportive level 1449.85.

 Trade recommendation

 Remain flat.