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Looking to buy #NIKKEI within 25458-25126

Looking to buy #NIKKEI within 25458-25126 | 24 March 2023

#WTI weekly

Looking to buy #NIKKEI within 25458-25126

Technical observation

 Last week #WTI declined below the supportive zone 74.41-71.50 with a big red candle and this week I expect either a continuation of this bearish movement or a correction to the just broken line. My advice, remain flat and wait for a second retracement to the zone indicated above to sell #WTI with your take profit at 43.97 and stop-loss at 88.07. In case of a break below the level 43.97, I expect the value of #WTI to plummet further towards the supportive level 9.93 or lower. On the weekly chart above as long as the commodity above is sustained below the zone 74.41-71.50, I can only recommend bearish positions.

Trade recommendation

Remain flat.

#CAC40 weekly

Looking to buy #NIKKEI within 25458-25126

Technical observation

#CAC40 rose to the resistance level 7402.7 then bounced at it and since then it has been trading with an increasing bearish bias. This downwards movement is a pullback to the supportive zone 5768.4-5682.1 and I expect a possible rejection within it followed by a surge to the upper side. My advice, remain flat and wait for a correction to the zone I have indicated above to buy #CAC40 with your take profit at 7402.7 and stop-loss at 5234.1. In case of a break above the level 7402.7 wait for pullback to it before you continue long, on the other hand if there is a penetration below the zone 5768.4-5682.1, I expect the value of #CAC40 to plummet towards 3769.4.

Trade recommendation

Remain flat and wait for a correction to the zone 5768.4-5682.1 to buy #CAC40.

#NIKKEI weekly

Looking to buy #NIKKEI within 25458-25126

Technical observation

On the weekly chart above the value of #NIKKEI is trading with an increasing bearish bias slightly above the supportive zone 25458-25126. This downwards movement is a correction to the zone I have mentioned above and I expect a possible rejection within the same zone followed by a rally to the upper side. My advice, remain flat temporarily and wait for  correction to the zone I have mentioned above then buy a bounce within it with your take profit at 30281 and stop-loss at 23157. If there is a clear break above the level 30281, I expect the value of #NIKKEI to ascend further after a correction to the broken line.

Trade recommendation

Wait for a correction to the zone 25458-25126 to buy #NIKKEI.

Imelda Maseno
Analyst of «FreshForex» company
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