Remain flat with #DJI30 | 13 October 2023

 #HSI weekly

Remain flat with #DJI30

Technical observation

#HSI has been trading with an increasing bearish bias since it bounced within the resistance zone 22713-22263 and this week I expect it to continue further to the lower side. If you are already holding short positions with this pair, I recommend that you remain in the trade with your take profit at 14752 and stop-loss at 24927, if there is a clear breach below the level 14752 with a big red candle, wait for a correction to this level before you continue short with this pair, but if there is a clear break above the zone 22713-22263, I anticipate possible bullish movements towards the resistance levels 31096 or even higher.

Trade recommendation

Remain bearish with your take profit at 14752.

#Gas weekly

Remain flat with #DJI30

Technical observation

The value of the commodity on the chart above has been trading with an increasing bullish bias for the past two consecutive weeks and this week I expect it to ascend even further, my advice, remain neutral and wait for a pullback to the resistance zone 5.076-4.915 then sell #Gas within this zone with your take profit at 1.570 and stop-loss at 6.117, if there is a clear break below the level 1.570 with a big red candle, I expect the value of this commodity to plunge further after a retracement to the broken line. On the other hand, I expect a surge to the upper side in case of a clear penetration above the zone 5.076-4.915.

Trade recommendation

Wait for a correction to the zone 5.076-4.915 to sell #Gas.

#DJI30 weekly

Remain flat with #DJI30

Technical observation

On the chart above, the value of #DJI30 declined with a big red candle last week and this week I expect a further momentum to the lower side, this downwards movement is a correction to the supportive zone 29130-28734 and I expect a possible rejection within it followed by a surge to the upper side. My advice, remain neutral and wait for a pullback to the zone I have indicated above then re-buy this index within it with your take profit at 36396 and stop-loss at 26468. If there is a clear break above the level 36396 with a big green candle, I anticipate the value of this index to ascend further to the upper side after a pullback to the broken line.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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