Remain flat temporarily with Brent

#ASK weekly

Remain flat temporarily with Brent

Technical observation

#ASK declined below the key supportive 5640.9-5595.5 last week and I still expect more bearish momentum below the zone for a clear breakout followed by a correction to the just broken zone and a rejection within it for possible bearish rally towards 5053.3 and a breakout below it for a further decline towards 4696.2.You can remain flat temporarily and wait for the breakout below the above mentioned zone and a correction to it to pick short positions with your take profit at 5053.3 and stop loss at 5790.3.As long at #ASK is contained below the zone 5640.9-5595.5 only short positions look ideal and can be recommended.

Trade recommendation

Wait for a correction to 5640.9-5595.5 to sell #ASK.

#Brent weekly

Remain flat temporarily with Brent

Technical observation

Brent is still rallying below the just broken zone 70.21-68.33, my expectation is a correction to it followed by a bounce within it for possible bearish momentum towards the support 45.21 and a breach below it for a further decline in price towards the lower support 27.44.You can remain flat temporarily for now and wait for a correction to the above mentioned zone and a rejection within it to sell Brent with your take profit at 45.21 and stop loss at 76.65.In case of a penetration below  45.21 with  a big red candle, wait for a confirmation of further bearish rally before you continue short with this commodity towards 27.44.

Trade recommendation

Remain flat temporarily.

#DAX30 weekly

Remain flat temporarily with Brent

Technical observation

This commodity rose towards the key resistance zone 118340.0-11683.0 but did not reach it. My expectation is more bullish movements towards the zone and a loss of it within the zone for possible bearish rally towards 10303.4.Right now I would advise you remain flat temporarily and wait for the pullback to the resistance zone 118340.0-11683.0 and a rejection within it to sell #DAX30 with your take profit at 10303.4 and stop loss at 12387.8.On your way downwards the key lines to look for include 10303.4 and 8951.3.As long this commodity is contained below 118340.0-11683.0, only short positions look ideal and may be recommended.

Trade recommendation

Remain flat temporarily.

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Remain flat temporarily with Brent

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Imelda Maseno
Analyst of «FreshForex» company
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