Remain short with #HSI | 08 July 2022

#HSI weekly

Remain short with #HSI

Technical observation

 On the chart above the value of HSI declined as I had predicted and this week I expect a continuation of this downwards movement towards the supportive level 17430 followed by either a clear break below it with a big red candle, or a bounce at it followed by another correction to the level mentioned above. If you picked short positions within the zone 22697-22347 after a bounce, remain in the trade with your take profit at 17430 and stop-loss at 24911. As it is on the chart above, I can only recommend bullish positions in case of a break above the zone 22697-22347.

Trade recommendation

Remain short with your take profit at 17430.

#ASX weekly

Remain short with #HSI

Technical observation

Last week the value of ASX declined with a big red candle and as long as it is sustained below the resistance zone 6900.3-6825.7, I expect a continuation of this bearish movement towards the supportive level marked at 5769.0. If you are currently holding short positions with the commodity above, I would recommend that you remain in the trade with your take profit at 5769.0 and stop-loss at 7204.9. Should there be a clear break below the key level 5769.0 with a big red candle, continue short towards the supportive level 4507.3 after a correction to the broken line.

Trade recommendation

Remain short with your take profit at 5769.0.

#Gas weekly

Remain short with #HSI

Technical observation

The value of the commodity on the chart above continued to rally to the lower side and this week, I expect either a continuation of this bearish movement or a loss of it followed by a correction to the resistance level 6.520. In case of a correction to the level 6.520, pick short positions at it after a bounce with your take profit at 3.607 and stop-loss at 7.451. Should there be a clear break below the zone 3.607-3.435 with a big red candle, I expect a further surge towards the supportive level 1.527 or even lower. Right now remaining neutral is ideal than picking any positions.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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