Remain flat temporarily with #IBM | 01 March 2019

#IBM,weekly 

Technical observation

Last week, #IBM shares rose towards the resistance 142.76-140.43, I still expect a rise to the zone this week followed by a bounce within it for a decline towards the key level 109.78.You can remain flat temporarily and wait for the correction to 142.76-140.43 and a bounce within it to sell #IBM with your take profit at 109.78 and stop loss at 149.34.In case this take profit is hit and there’s a clear penetration below it with a big red candle, more downwards movement of this commodity can be expected after a correction to the just broken key line. Long positions may only be advisable in case of a clear breakout above 142.76-140.43.

Trade recommendation

Remain flat temporarily.

#GazpromNef,weekly

Technical observation

On the weekly chart above, GazpromNef has been declining steadily towards a key supportive zone 317.35-312.01, this week I still expect more of this bearish rally towards 317.35-312.01 and a loss of it within it for upward momentum. You can wait for the correction to 317.35-312.01 and a rejection within it to buy this commodity with your take profit at 389.53 and stop loss at 287.82.In case there’s no rejection within 317.35-312.01 but a clear breach below it with a big red candle, downwards movement of this commodity towards 240.61 can be anticipated after a correction to the just broken zone followed by a bounce within it.

Trade recommendation

Wait for a correction to 317.35-312.01 to buy GazpromNef.

#FedEX,weekly

Technical observation

The commodity on the weekly chart above corrected to a resistance zone 183.59-180.02 but could not penetrate above it, It was rejected and this week I expect bearish momentum towards the support 126.93.You can sell #FedEX shares within the above mentioned zone with your take profit at 126.93 and stop loss at 196.37, in case of a break below 126.93, more bearish rally can be expected. As it is on the weekly chart above, only short positions look ideal and may be advisable, long positions may only be recommended in case of  a clear penetration above 183.59-180.02 with  a big green candle followed by a correction to it.

Trade recommendation

Sell #FedEx within 183.59-180.02 with your take profit at 126.93 and stop loss at 196.37.