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Short Brent within 80.61-78.85

Short Brent within 80.61-78.85 | 17 August 2018

Brent weekly

Short Brent within 80.61-78.85

Technical observation

 Brent is still rallying below the resistance zone 80.61-78.85,I still expect bearish movements of price towards the supportive line 61.32,in case you are short remain in the trade with your ideal target at 61.32.If you had not sold Brent yet, wait for a correction to the just mentioned  zone followed by a rejection within it for possible bearish momentum towards 61.32.In case of  a clear breakout above 80.61-78.85,wait for a correction to it to confirm bullish movement of Brent before you enter long positions towards the resistance 103.06. Right now wait for a pull back to 80.61-78.85 to short Brent.

 Trade signal

 Wait for a correction to 80.61-78.85 to short Brent     

Gazprom weekly

Short Brent within 80.61-78.85

Technical observation

Gazprom is trading on a upwards trend with three retracements at the key support zone 135.97-134.20,I expect  another correction to the zone followed by  a rejection within it for possible bullish momentum towards the resistance 157.77.If you are already long you still remain long with your ideal target at 157.77,if you had not bought Gazprom yet,wiat for a  correction to the zone then long Gazprom after a rejection within the zone with your ideal target at 157.77 and stop loss slightly below 134.20.Only long positions look ideal on the weekly chart above and so can be recommended within 135.97-134.20.

Trade signal 

Wait for a pullback to 135.97-134.20 to long Gazprom with your take profit at 157.77 and stop loss slightly below 134.20.

  Platinum weekly

 Short Brent within 80.61-78.85

Technical observation

Platinum is still below the just broken line 885.02.I expect a correction to it followed by a rejection within it for possible bearish momentum towards 753.96.You can wait for the correction to 885.02 then short platinum at it with your take profit at 753.96 and stop loss slightly above 885.02.In case there’s  a breach below 753.96wait for a correction to it then continue short with platinum with your ideal target at 599.40.Only short positions look ideal on the weekly chart above and can be recommended towards 753.96,Long positions may only be ideal in case of  a clear breakout above 885.02 with  a big green candle and  a correction to it.

Trade signal

Wait for the correction to 885.02 to short platinum with your take profit at 753.96 and stop loss slightly above 885.02.

 

Do you know against which currencies CFD is the most profitable?

Short Brent within 80.61-78.85

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Imelda Maseno
Analyst of «FreshForex» company
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