After the breakout below the support 62.19 Brent is still declining towards the key level 43.21, my expectation is a correction to the just broken line followed by a bounce at it for possible bearish momentum towards 43.21 and a breakout below it for a further decline. I would advise you remain neutral for now and wait for the correction to 62.19 to sell Brent. In case of a clear penetration above 62.19 then the breakout below it was false so bullish momentum may be ideal towards the key resistance zone 80.71-78.73 but as long as price is contained below the level 62.19 only short positions look ideal and may be advisable.
Trade recommendationWait for a correction to 62.19 to sell Brent with your take profit at 43.21.
On the weekly chart above Gold is rallying between a key resistance zone $1382.89-$1364.49 and a supportive level $1065.10.My expectation is either a correction to the above mentioned zone followed by a rejection within it for bearish price rally towards $1065.10 or a decline to the support followed by a clear penetration below it and a correction to it for bearish momentum towards $720.55 or even lower to $411.50.I would advise you remain flat for now and wait for either a correction to $1382.89-$1364.49 or a breakout below $1065.10 to trade Gold. Long positions may only be advisable above the zone $1382.89-$1364.49.
Trade recommendationRemain flat.
On the hourly chart above palladium is trading on an upwards trend with retracements at the supportive zone 1173.23-1171-17, currently price is rallying above the zone and my expectation is another correction to the above mentioned zone followed by a bounce within it for possible bullish price rally towards 1194.29 and a breakout above it for a further rise in price. In case you bought Palladium recently within 1173.23-1171-17, remain long with your ideal target at 1194.29 and stop loss at 1162.52.As long Palladium is contained above 1173.23-1171-17, only long positions may be recommended on the chart above.
Trade recommendationWait for a correction to 1173.23-1171-17 to buy Palladium with your take profit at 1194.29 and stop loss at 1162.52.