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Sell #Brent now within the zone 88.71-85.75

Sell #Brent now within the zone 88.71-85.75 | 27 January 2023

 #Brent weekly

Sell #Brent now within the zone 88.71-85.75

Technical observation

The past two consecutive weeks #Brent has been trading with an increasing bullish bias this upwards movement is a correction to the resistance zone 88.71-85.75 and I expect a rejection within it followed by a surge to the lower side. My advice, sell #Brent now within the zone I have indicated above with your take profit at 46.50 and stop-loss at 103.28, in case of a clear break below the level 46.50, wait for a correction and a bounce at it before you continue short towards the supportive level 19.15. As it is on the weekly chart above, as long as the value of #Brent is sustained below the zone 88.71-85.75, I can only recommend short positions.

Trade recommendation

Sell #Brent now within the zone 88.71-85.75 with your take profit at 46.50.

#NIKKEI weekly

Sell #Brent now within the zone 88.71-85.75

Technical observation

 Last week #NIKKEI rose with a big green candle and as long as it is sustained above the supportive zone 25458-25126, I expect a continuation of this upwards movement. If you are currently holding bullish positions with the index above, I recommend that you remain in the trade with your take profit at 30293 and stop-loss at 22843. In case of a clear break above the level 30293, I expect the value of #NIKKEI to rally further upwards, on the other hand if there is penetration below the zone 25458-25126 with a big red candle, I expect the value of this index to plummet towards the supportive level 19807, or even lower to the levels 13469 and 8182.

Trade recommendation

Remain long with your take profit at 30293.

#ASX weekly

Sell #Brent now within the zone 88.71-85.75

Technical observation

 Last week the value of #ASX rose with a big green candle and this week I expect a further surge to the upper side. The anticipated bullish movement is a rally to the key level 7613.3 and I expect a rejection at it or a clear break above it with a big green candle. If you are currently holding bullish positions, I recommend that you remain in the trade with your take profit at 7613.3, in case of a break above the same level, wait for a correction and a rejection at it before you continue long, on the other hand, in case of a bounce at the level 7613.3, wait for a correction to the supportive zone 6503.6-6440.1 to re-buy #ASX.

Trade recommendation

Remain long with your take profit at 7613.3.

Imelda Maseno
Analyst of «FreshForex» company
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