Remain neutral with #Gold | 30 June 2023

#NQ100 weekly

 Remain neutral with #Gold

Technical observation

On the chart above the value of #NQ100 has been trading with an increasing bullish bias for several weeks now and this week I expect it to ascend even further. If you are already holding bullish positions, I recommend that you remain bullish and pick your profits at 16572.1 , in case of a bounce at the level 16572.1, wait for another correction to the zone 10689.3-10455.3 to re-buy #NQ100,  I expect a further surge to the upper side. Should there be a clear penetration below the zone 10689.3-10455.3 with a big red candle, I expect the value of this index to plummet towards the supportive levels 6837.1 and 3430.6.

Trade recommendation

 

Remain long with your take profit at 16572.1.

#Brent weekly

Remain neutral with #Gold

Technical observation

#Brent retraced to the resistance zone 89.08-86.78 then bounced within it and since then it has been trading with an increasing bearish bias, this week I expect a further surge to the lower side and in case you sold this commodity within the zone I mentioned above, I recommend you remain in the trade with your take profit at 46.07 and stop-loss at 101.35. If there is a clear break below the level 46.07, wait for a correction and a rejection at it before you continue short towards the supportive level 19.15 or lower, on the other hand, if there is a clear break above the zone 89.08-86.78, I anticipate possible bullish movements towards 131.14.

Trade recommendation

Remain short with your take profit at 46.07.

#Gold weekly

Remain neutral with #Gold

Technical observation

#Gold rose to the resistance level 2034.17 then bounced at it and since then it has been trading with an increasing bearish bias. This downwards movement is a correction to the supportive zone 1661.65-1643.25 and I expect a possible rejection within it followed by a surge to the upper side. My advice, remain neutral and wait for a correction to the zone indicated above then buy a bounce within it with your take profit at 2034.17 and stop-loss at 1504.60. If there is a clear break above the level 2034.17, I expect the value of this commodity to ascend after a correction to the broken line, on the chart above, I can only recommend short positions below the zone 1661.65-1643.25.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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