We are flat temporarily with #NIKKEI | 24 December 2021

#Gas weekly

We are flat temporarily with #NIKKEI

Technical observation

Last week #Gas retraced to the supportive zone 3.730-3.634 but it could not break below it, the value of this commodity was sustained above the zone and as long as it remains there, I can only recommend picking bullish positions. If you bought #Gas within the zone 3.730-3.634 after a bounce, remain long with your take profit at 5.658 and stop loss at 3.193. In case this commodity hits this take profit and there is a clear breakout above it with a big green candle, I expect a further surge to the resistance level 6.521. On the other hand, in case of a clear penetration below the zone mentioned above with big red candle, I expect bearish movement towards the level 2.071.

 Trade recommendation

 Remain long with your take profit at 5.658.

#NIKKEI weekly

We are flat temporarily with #NIKKEI

Technical observation

#NIKKEI is retracing steadily to the supportive zone it established at 27146-26880, I expect a continuation of this bearish movement to the same zone followed by a bounce within it to pick long positions with my take profit at 30299 and stop loss at 25366. In case there is no bounce within the zone 27146-26880 but a clear breakout below it with a big red candle, wait for a pullback and rejection within it before you pick short positions. On your way downwards the key levels to look for include 24169, 19266 and the lowest supportive level 14805. As long as #NIKKEI is above the zone 27146-26880, I can only recommend long positions.

 Trade recommendation

Wait for a correction to the zone 27146-26880 to buy #NIKKEI.

#Brent weekly

We are flat temporarily with #NIKKEI

Technical observation

The value of the commodity on the chart above is trading with an increasing bearish bias above a zone 69.35-68.19, this downwards movement is a correction to the zone mentioned above and I expect a rejection of it within the same zone followed by a surge to the upper side. My advice, remain flat temporarily and wait for a correction to the zone 69.35-68.19 then buy #Brent within it with your take profit at 68.52 and stop loss at 62.51. In case there is a clear break below the zone I have mentioned above with a big red candle, wait for a retracement to the just broken zone then sell a bounce within it towards the supportive level 45.86.

 Trade recommendation

 Remain flat temporarily.

Imelda Maseno
Analyst of «FreshForex» company
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