Expecting #Gas to rally to 6.521 | 26 November 2021

 #Brent weekly

Technical observation

For the past several weeks the commodity on the weekly chart above has been trading with an increasing bearish bias. This bearish movement is a correction to the supportive zone it established at 70.13-68.96. I expect a further decline to the zone mentioned above followed by a rejection within it to buy this commodity with my take profit at 85.10 and stop loss at 61.74. In case of a clear breakout below the zone 70.13-68.96 with a big red candle, I expect the value of this commodity to descend to the supportive level 45.73 after a correction to the broken zone. Further bullish movements can be anticipated above the level 85.10.

 Trade recommendation

 Remain neutral.

#NIKKEI weekly

Technical observation

 Last week the value of the commodity in the chart above rose with a big green candle and it is currently trading slightly below the resistance level 30299. Despite the currently bearish rally, I expect a further rise to the level I have mentioned above followed by either a clear breakout above it with a big green candle, or a bounce at it followed by a correction to the supportive zone 27146-26880. If there is a break above the level 30299 with a big green candle, wait for a correction to it then pick long positions after at the same line however, should there be a retracement to the zone 27146-26880, re-buy #NIKKEI within it with your take profit  at 30299 and stop loss at 25584.

 Trade recommendation

 Remain neutral.

#Gas weekly

Technical observation

#Gas, retraced to the supportive zone it established at 4.843-4.757 but it could not break below it, instead it bounced above the zone and since then the value of this commodity has been trading with an increasing bullish bias. I expect a continuation of this upwards movement to the resistance level 6.521 followed by either a clear breakout above it with a big green candle, or a bounce at it. If you bought #Gas within the zone I stated above after a bounce, remain in the trade with your take profit at 6.521 and stop loss at 4.210. As long as the value of this commodity remains above the zone 4.843-4.757, I can only recommend bullish positions.

 Trade recommendation

 Remain long with your take profit at 6.521.