We are flat with #Gas | 09 June 2023

#Gas weekly

We are flat with #Gas

Technical observation

#Gas broke below the zone 5.076-4.915 the declined steadily to the supportive level 1.531 and it is currently trading with an increasing bullish bias. This upwards movement is a correction to the resistance zone 5.076-4.915 and I expect a rise to the same zone followed by a possible bounce within it, My advice, remain neutral and wait for a correction to the zone I mentioned earlier then buy a bounce within it with your take profit at 1.531 and stop-loss at 6.084. In case of a break below the level 1.531, you can expect the value of this commodity to plunge further; on the other hand, I anticipate bullish movements above the zone 5.076-4.915.

Trade recommendation

 

Remain neutral.

#DJI30 weekly

We are flat with #Gas

Technical observation

#DJ130 is trading with an increasing bearish bias between the supportive zone 29130-28734 and a resistance level 36396, this downwards movement is a correction to the zone indicated above and I expect a possible rejection within it. My advice, remain neutral and wait for a correction to the zone 29130-28734 then buy a bounce within it with your take profit at 36396 and stop-loss at 26575. If the price breaks above the level 36396, I expect #DJ130 to ascend after a pullback to the broke line, on the other hand should there be a clear penetration below the zone 29130-28734, possible bearish movements towards the level 18582 is expected.

Trade recommendation

Remain neutral.

#Brent weekly

We are flat with #Gas

Technical observation

 The value of the commodity on the chart above has been trading with an increasing bearish bias for a while now and this week I expect it to decline even further. If you already sold #Brent within the zone 89.08-86.78, you can remain in the trade with your take profit at 46.07 and stop-loss at 103.06. If there is a clear break below the level 46.07, wait for a pullback and a bounce at it before you continue short towards the lower supportive level 19.15, on the chart above, as long as the value of #Brent is sustained below the zone 89.08-86.78, only short positions look ideal and can be recommended.

Trade recommendation

Remain short with your take profit at 46.07.

Imelda Maseno
Analyst of «FreshForex» company
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