Buy Brent within 68.64-66.87 | 23 November 2018

Brent weekly

Technical observation

Brent has been declining steadily towards the key supportive zone 68.64-66.87 and I expect  a rejection of it within the zone for possible bullish movements towards the resistance line 86.44 and a possible breakout above it for a further rise in price towards 105.45.I’m looking to buy Brent within the above mentioned zone with my take profit at 86.44 and stop loss around 59.68.Should there be a clear breach below 68.64-66.87 with a big red candle, my advice, wait for a  confirmation of possible bearish momentum before you sell Brent. The key lines to look for on your way downwards include; 54.24 and 38.39.

Trade recommendation

Buy Brent within 68.64-66.87 with your take profit at 86.44 and stop loss around 59.68.

 Gold weekly

Technical observation

On the weekly chart above, Gold went above a key resistance zone 1068.84-1063.50 steadily with a big green candle before pulling back to it, it was rejected and so could not penetrate below the mentioned zone confirming this was not a false breakout. I’m looking to buy Gold now within the zone with my take profit at 1114.00 and stop loss slightly below 1063.50.In case of a clear breakout below 1068.84-1063.50 with a big red candle, wait for a retracement to the just broken zone before you sell Gold with your ideal target at 1011.37 or even lower to 960.68.Right now only long positions can be recommended towards 1114.00.

Trade recommendation

Buy Gold now within 1068.84-1063.50 with your take profit at 1114.00 and stop loss slightly below 1063.50.

     # ESTX50

Technical observation

#ESTX50 went down a key supportive zone 3288.6-3263.7 after retracing severally to it. #ESTX50 then corrected to the just broken zone but could not penetrate above it and was rejected. I picked short positions within the above mentioned zone and I’m holding on to this position with my ideal target at 2718.1  or even to the lowest support 2421.7.As long as #ESTX50 remains below the zone 3288.6-3263.7,  only short positions look ideal and can be recommended on the weekly chart above. If you had traded EUR STOXX yet, you can still wait for another correction to 3288.6-3263.7 and a rejection within it to sell #ESTX50

Trade recommendation

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