Remain long with #ASX

 #SP500 weekly

Remain long with #ASX

Technical observation

Last week #SP500 rose with a big green candle and this week I expect a continuation of this upwards movement towards the resistance level 4785.0. If you picked long positions within the zone indicated above and are is holding bullish positions, my advice is, that you remain in the trade with your take profit at 4785.0 and stop-loss at 3264.2, you can continue long after a clear penetration above the level 4785.0. Should there be a clear break below the zone 3633.8-3682.8 with a big red candle, I expect the value of the commodity above to plummet towards the supportive level 2409.2 or even lower to the key level 1530.1.

Trade recommendation

Remain long with your take profit at 4785.0.

#NIKKEI weekly

Remain long with #ASX

Technical observation

The value of #NIKKEI has been trading with an increasing bullish bias for several weeks now and as long as it is sustained above the zone 25458-25126, I expect a further surge to the upper side. If you picked long positions within the zone mentioned above after a bounce, remain in the trade with your take profit at 30293 and stop-loss at 23108. A further surge to the upper side can be expected in case of a clear break above level 30293 with a big green candle, but in case of a break below the zone 25458-25126, I anticipate bearish movements of the value of the commodity above towards the supportive level 20051.

Trade recommendation

Remain long with your take profit at 30293.

#ASX

Remain long with #ASX

Technical observation

Since it bounced within the zone 6446.5-6365.7, the value of #ASX has been trading with an increasing bullish bias and this week I expect a continuation of this upwards movement. If you are currently holding long positions with the commodity above I would recommend that you remain in the trade with your take profit at 7615.1 and stop-loss at 5942.8. In case of a clear break above level 7615.1, you can expect a further surge to the upper side after a correction to the broken line, on the other hand, should there be a clear break below the zone 6446.5-6365.7 with a big red candle, I expect the value of #ASX to plummet towards 4724.8.

Trade recommendation

Remain long with your take profit at 7615.1.

Imelda Maseno
Analyst of «FreshForex» company
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