Wait for a correction to 70.24 to sell Brent

Brent weekly

Wait for a correction to 70.24 to sell Brent

Technical observation

Last week Brent went further below the just broken key level 70.24 with  a big red candle, I expect a correction to the line followed by  a rejection at it for possible bearish momentum towards 57.14 and a breakout below the line for a further decline in price towards 43.38 or even lower to 28.51.My advice, wait for a correction to 70.24 and a bounce at it then pick short position with your take profit at 57.14 and stop loss at 78.17.Should there be  a clear breakout above 70.24 with  a big green candle, wait for a correction to the line confirming possible bullish movements of  Brent before you pick long positions towards the resistance line 86.62.

Trade signal

Wait for a correction to 70.24 to sell Brent with your take profit at 57.14 and stop loss at 78.17.

     #DAX30,weekly

Wait for a correction to 70.24 to sell Brent

Technical observation

The commodity on the weekly chart above went below a key supportive zone 11921.9-11795.0 with a big red candle before pulling back to it. Right now price is moving down and I expect another correction to the above mentioned zone followed by a bounce within it to pick short position with my ideal target at 10194.4, should there be a clear break below 10194.4 with a big red candle, I’ll wait for a confirmation of possible further bearish momentum before I sell The German stock index towards 8951.3.As long as this commodity is contained below 11921.9-11795.0, only short positions can be recommended on the chart above.

Trade signal

Wait for a pull back to 11921.9-11795.0 to sell #DX30 with your take profit at 10194.4 and stop loss at 12548.9

           #NQ100,weekly

Wait for a correction to 70.24 to sell Brent

Technical observation

After several months of rallying on a clear upward trend, NASDAQ is currently moving on a bearish momentum. This commodity went below a support level 7046.1 before pulling back to it and was rejected then went down. Right now it is rallying on a bullish momentum towards the above mentioned level at I expect a loss of this momentum at the line for possible bearish movements. As long as NASDAQ remains below 7046.1 only short positions can be advisable, on your way downward the key lines to look for include;6327.1, 5642.8, 4672.6 and 4014.3. .My advice, wait for a correction to the resistance level 7046.1 then sell NASDAQ at it after a rejection with your take profit at 6327.1 and stop loss at 7426.3.

Trade signal

Sell NASDAQ at 7046.1 with your take profit at 6327.1 and stop loss at 7426.3.

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

Wait for a correction to 70.24 to sell Brent

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Imelda Maseno
Analyst of «FreshForex» company
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