Wait for a correction to 64.18-61.54 to buy #WTI

Brent weekly

Wait for a correction to 64.18-61.54 to buy #WTI

Technical observation

Last week Brent retraced to the resistance zone 80.16-78.85,price closed below it and could not penetrate above it, currently it is still retracing to the above mentioned zone and I expect  a rejection within it followed by bearish momentum towards 61.32 and a possible breakout below it for  a further decline in Brent towards 44.43.Wait for the rejection within 80.16-78.85 then short Brent within it with your take profit at 61.32 and stop loss slightly above 80.16.Should there be  a breach above 80.16-78.85 instead of  a rejection within it, wait for a correction to it confirm upwards movement before you pick long positions.

Trade signal

Sell Brent within 80.16-78.85 with your take profit at 61.32.

             #NIKKEI weekly

Wait for a correction to 64.18-61.54 to buy #WTI

Technical observation

Last week, a breakout was seen when #NIKKEI broke above a resistance zone 22912-22600 with a big green candle and is still rallying above it. I expect a correction to the just broken zone followed by a rejection within it for possible bullish momentum towards 24178 and a possible breakout above it for a further rise in price. My advice, wait for the correction to 22912-22600 then buy #NIKKEI on the second retracement to the zone  just to ensure this was not  a false breakout with your take profit at 24178 and stop loss slightly below 22600.Continue long after a breakout above the resistance 24178 followed by  a correction to it .

Trade signal

Wait for a correction to 22912-22600 to buy NIKKEI.

                                #WTI weekly 

Wait for a correction to 64.18-61.54 to buy #WTI

Technical observation

The commodity on the weekly chart above is still rallying above the support zone 64.18-61.54, I expect a pullback to the zone followed by  a rejection within it for possible bullish momentum towards the resistance 76.60 and  a possible breakout above it for  a further rise towards the upper resistance 93.12, wait for the rejection within 64.18-61.54 then long  #WTI within it with your first take profit at 76.60 and the next at 93.12 with your stop loss slightly below 61.54.Should there be  a clear breakout below 64.18-61.54 with a big red candle, wait for a correction to it before you pick short positions towards 49.34.

Trade signal

Wait for a correction to 64.18-61.54.

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

Wait for a correction to 64.18-61.54 to buy #WTI

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Imelda Maseno
Analyst of «FreshForex» company
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