#Brent weekly
Technical observation
The commodity on the weekly chart above is declining drastically towards the supportive zone 70.13-68.96, this bearish movement is a correction to the zone mentioned above and I expect a loss of it within the same zone followed by a momentum to the upper side. My advice, remain neutral and wait for a correction to the zone 70.13-68.96 then buy a bounce within it with your take profit at 85.10 and stop loss at 62.64. In case there is a clear breakout above the level 85.10 with a big green candle, further bullish movements can be anticipated. On the chart above, I can only recommend bearish positions below the zone 70.13-68.96.
Trade recommendation
Remain neutral temporarily.
#NIKKEI weekly
Technical observation
#NIKKEI is retracing to the supportive zone it established at 27146-26880 and I expect a rejection within the same zone followed by a rally to the resistance level 30299. My advice, remain neutral temporarily and buy this commodity within the zone I have mentioned above with your take profit at 30299 and stop loss at 25554. In case there is a clear breakout below the zone 27146-26880 with a big red candle, I expect a correction to it followed by a surge to the supportive level 24169 or even lower to the key level 19266; however, as long as #NIKKEI remains above the same zone I can only recommend bullish positions.
Trade recommendation
Wait for a correction to the zone to 27146-26880 to buy #NIKKEI.
#XAUUSD weekly
Technical observation
Gold is trading with an increasing bearish bias between the supportive zone 1695.19-1676.96 and a resistance level 1904.90. I expect a continuation of this bearish movement to the zone I have mentioned above followed by a bounce within it to pick long positions, my advice, remain flat and wait for a pullback to the zone 1695.19-1676.96 then buy Gold within it with your take profit at 1904.90 and stop loss at 1565.71. In case of a clear breakout below the same zone with a big red candle, I anticipate bearish movements to the supportive level 1451.69 after a retracement to the broken zone and a bounce within it.
Trade recommendation
Wait for a correction to the zone 1695.19-1676.96 to buy #Gold.
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