Start
trading

Main >
Analytics
>
Fresh forecast
>
Forex Technical Analysis: Trend potential
>
Sell Brent within 80.71-79.28

Sell Brent within 80.71-79.28 | 09 November 2018

Brent weekly

Sell Brent within 80.71-79.28

Technical observation

Brent is still declining towards the support 62.19 and I expect a loss of this momentum followed by  a correction to the just broken zone 80.71-79.28 for possible downwards movements to 62.19 and a clear breach below it for further bearish movements towards 43.21.Right now I would advise you wait for the correction to 80.71-79.28 and  a rejection within it to sell Brent with your take profit at 62.19 and stop loss slightly above 80.71.Only short positions can be recommended on the weekly chart above. Long positions may only be advisable above the zone 80.71-79.28 after a correction to it confirming possible bullish movements. 

Trade signal

Wait for a correction to 80.71-79.28.                     

     Gold weekly

Sell Brent within 80.71-79.28

Technical observation

Last week, Gold declined towards the support 1065.10 but could not reach it I still expect more bearish movement towards the above mentioned line followed by a clear break below it for further decline. Should there be no decline towards 1065.10 but arise to the key resistance zone 1382.59-1365.49 and a bounce within it, re-sell Gold within it with your take profit at 1065.10 and stop loss slightly above 1382.59.Long positions may only be advisable in case of a clear breakout above 1.1382.59 with a big green candle followed by a correction to it more than once confirming possible bullish movements towards 1610.36.

Trade signal

We are flat.

                                         Palladium weekly

Sell Brent within 80.71-79.28

Technical observation

Last week Palladium rose to the resistance line 1122.45 but could not penetrate above it and was rejected. Currently it is moving downwards  and I expect a steady rally towards 904.30 and a rejection at it to pick long positions with my take profit at 1122.45 and stop loss around 829.80, you can continue long with palladium after a clear breakout above 1122.45 followed by  a correction to it. In case of a clear break below 904.30, wait for a correction to it to confirm bearish movements of Palladium before you pick short positions, on your way downwards the key lines to look for include; 745.54, 617.17 and 480.71.

Trade signal

Wait for a correction to 904.30 to buy Palladium.

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

Sell Brent within 80.71-79.28

More trading assets here...

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:

Close
Log in

Show password

Hide password

 Forgot password?
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .

Our best awards:

FreshForex is a brand that provides access to online trading for clients from more than 158 countries all over the world. The Company's partners are the licensed European liquidity providers, banks, payment aggregators and systems with which the company has been cooperating for more than 19 years.
Clients must be at least 18 years old to use the services of the Company.
The company's services and information on the site are not intended for citizens and residents of some countries, such as Belgium, China, North Korea, France, Hong Kong, Russian Federation, Spain, Great Britain, USA, and also countries identified by the FATF as high-risk countries or countries with serious AML/CFT deficiencies; countries or regions that are under international sanctions. A complete list is available on the "Countries where the company's services are not provided" page. The Company does not have representative offices in the Russian Federation and does not register clients from the Russian Federation.
Risk Warning: Trading financial instruments with leverage carries high risks and can result in both profits and losses. Potential losses are limited by the deposit amount. Before deciding to trade, the client should assess their risk tolerance, experience, and knowledge level.

Freshforex.com uses cookies for better website operation, traffic flow analysis, and personalization. By using this website you agree to our Cookie Policy.
User Data privacy is protected in accordance with GDPR. The SSL certificate installed on the website transfers the information over a secure protocol.
The site contains links to websites of third parties. The Company does not check or control the third-party resources that are in any way related to the FreshForex site, so the Company is not responsible for any third-party information or materials posted.
By creating a link to a third party website, the Company does not endorse or recommend any products or services offered by the third party.
The website content is intended for informational purposes only. It should not be regarded as an offer or solicitation to any person in any jurisdiction in which such an offer or solicitation is not authorized. It also should not be considered as an offer/solicitation to any person to whom it would be unlawful to make such an offer or solicitation, nor regarded as a recommendation to buy, sell or otherwise deal with any particular currency or any other trading asset investment. If you are not sure about your local trading regulations, please, leave this website immediately.
© 2004—2024 FreshForex – Forex broker
Reproduction of the contents is allowed only with active hyperlink to original source.
Riston Capital Ltd (20623 BC 2012) with registered address at Suite 305, Griffith Corporate Centre, Beachmont, P.O. Box 1510, Kingstown, Saint Vincent and the Grenadines.