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Wait for a correction to sell #ASK.

#ASK weekly

Wait for a correction to sell #ASK. 

Technical observation

#ASK declined towards a key supportive zone 5644.2-5598.7 and is currently penetrating below it. My expectation is a clear breakout below the zone followed by a correction to it and a rejection within it for possible bearish price rally towards the support 5094.5.My advice, wait for a close below 5644.2-5598.7 and a retracement to it then sell #ASK within it with your take profit at 5094.5 and stop loss at 5787.0.This commodity is moving on a bearish momentum and as long as it is contained below the above mentioned zone only short positions may be recommended. Continue short after a clear breakout below 5094.5 and a correction.

Trade recommendation

Wait for a correction to 5644.2-5598.7 to sell #ASK.

Brent weekly

Wait for a correction to sell #ASK.

Technical observation

Brent did not penetrate below the supportive line 57.53 and is currently rallying on an increasing bullish momentum towards the just broken zone 70.39-68.32.My expectation is a rejection within the zone followed by possible bearish price rally towards the support 57.53.You can wait for the pull back to 70.39-68.32 and a rejection within it to pick short position with your take profit at 57.53 and stop loss at 77.64.On your way downward the key lines to look for include 57.53, 43.14 and 27.44.AS long Brent is contained below the zone 70.39-68.32 only short positions may be recommended, Long positions may only be advisable above 70.39-68.32.

Trade recommendation

Wait for a correction to zone 70.39-68.32 to sell Brent with your take profit at 57.53.

#DAX30 weekly

Wait for a correction to sell #ASK.

Technical observation

Last week, German stock index declined massively towards the key level 10313.5 but did not reach it, my expectation this week is a correction to the key resistance zone 11834.0-11683.0 and a rejection within it for possible bearish momentum towards 10313.5 followed by  a breakout below it for a further decline in #DAX30 towards 8951.5.Should there be no correction to the above mentioned zone but a further decline to 10313.5 and a clear penetration below it, wait for a correction to it confirming further bearish movements before you re-sell #DAX30 with your ideal target towards the support 8951.3 or lower.

Trade recommendation

Remain flat.

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Imelda Maseno
Analyst of «FreshForex» company
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