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We're flat with #SP500

We're flat with #SP500 | 25 January 2019

 

#CAC4O,weekly

We're flat with #SP500

Technical observation

The commodity on the weekly chart above is correcting to the resistance zone 5009.5-4966.0, my expectation is a bounce of it within the zone for possible bearish price rally towards the support level marked at 4547.8. You can remain flat temporarily and wait for the correction and a rejection within 5009.5-4966.0 to sell #CAC40 with your take profit at 4547.8 and stop loss at 5169.5.Should there be a clear penetration below 4547.8 with a big red candle then more bearish momentum will be anticipate towards the lower support marked at 4002.4.Long positions may only be recommended in case of a clear penetration above 5009.5-4966.0

Trade recommendation

 Remain flat temporarily.

#ESTX5O,weekly

We're flat with #SP500

Technical observation

#ESTX50 is rising steadily towards the resistance zone marked at 3272.2-3244.8, my expectation is a clear bounce within the above mentioned zone followed by possible bearish price rally towards the support 2907.9, my advice, remain flat and wait for the correction to 3272.2-3244.8 and a rejection within it to sell this commodity with your take profit at 2907.9 and stop loss at 3361.0.In case of a penetration below 2907.9, wait for a correction to it confirming further bearish momentum before to continue short .Long positions may only be recommended in case of a clear breakout above 3272.2-3244.8 with a big green candle and a correction to it.

Trade recommendation

Remain flat.

#SP500,weekly

We're flat with #SP500

Technical observation

#SP500, is rallying between a resistance zone 2824.7-2794.6 and a  support 2398.5, my expectation is either a rise to 2824.7-2794.6 followed  by a bounce within it to sell #SP500 with my take profit at 2398.5 or a decline to 2398.5 followed by a breakout below it and a correction for bearish momentum. You can remain flat for now and wait for either of the circumstances mentioned above to trade this commodity. Should there be a clear breakout above 2824.7-2794.6 with a big green candle then bullish momentum may be anticipated. Right now only short positions look ideal and may be advisable for the commodity on the weekly chart above.

Tarde recommendation

Remain flat.

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Imelda Maseno
Analyst of «FreshForex» company
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