Remain flat with #ASX | 17 February 2023

 #NQ100 weekly

Remain flat with #ASX

Technical observation

On the chart above #NQ100 pulled back to the supportive zone 10455.3-10689.3 but did not break below it, however it bounced within the same zone and since then it has been trading with an increasing bullish bias. As long as the price is sustained above the zone I have indicated above, I expect a continuation of this upwards movement and my advice is, if you are currently holding bullish positions, you can remain in the trade with your take profit at the resistance level 16752.1 and stop-loss at 8851.5. Should there be a break below the zone 10455.3-10689.3, I expect bearish movements towards the level 6837.1.

Trade recommendation

Remain long with your take profit at 16752.1.

#HSI weekly

Remain flat with #ASX

Technical observation

#HSI pulled back to the resistance zone 22713-22263 but did not break above it, however, it was rejected within the same zone and then declined for two consecutive weeks. This week I expect a further continuation of this bearish movement and if you are currently short with this pair, remain short with your take profit at 14752 and stop-loss at 24851. If price breaks below the level 14752 with a big red candle, wait for a correction to the broken line before you continue short with this index, as it is on the weekly chart above, as long as price is sustained below the zone 22713-22263, I can only recommend short positions.

Trade recommendation

Remain short with your take profit at 14752.

#ASX weekly

Remain flat with #ASX

Technical observation

The index on the weekly chart above rose to the key level 7613.3 but did not break above it, instead it bounced at the same level and last week it declined, this bearish movement is a correction to the supportive zone 6503.6-6440.1 and I expect a possible rejection within it followed by a rally to the upper side. My advice, remain flat and wait for a correction to the zone I have mentioned above then pick bullish positions within it with your take profit at 7613.3 and stop-loss at 6080.2. If there is a clear break above the level 7613.3, I expect the value of #ASX to ascend further after a correction and a rejection at the broken line.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:


Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus