Wait for a correction to buy #Gazprom.

#IBM,weekly 

Wait for a correction to buy #Gazprom.

Technical observation

The value of the commodity on the weekly chart above rose above a resistance zone 141.71-139.42 and continues to trade above it, I expect a correction to the just broken zone followed by a  clear rejection within it for possible bullish momentum towards the key level 172.81 and a possible breach above it for  a further rise towards the highest level 200.17.My advice, wait for pullback to the just broken zone and a bounce within it to buy #IBM with your take profit at 172.81 and stop loss at 132.01. AS long as this commodity is contained above the zone mentioned above, only long positions look ideal and may be recommended.

Trade recommendation

Wait for a correction to 141.71-139.42 to buy #IBM with your take profit at 172.81 and stop loss at 132.01.

#FedEx,weekly

Wait for a correction to buy #Gazprom.

Technical observation

On the chart above #FedEx penetrated above a resistance zone 183.59-180.02 with a big green candle, last week more of this bullish movement was seen and this week I expect a pullback to the broken zone followed by a rejection within it to buy this commodity. I would advise you wait for the correction to 183.59-180.02 and a rejection within it to buy #FedEx with your take profit at 227.00 and stop loss at 164.86, if this take profit is hit and there’s a clear breach above it with a big green candle, more bullish movement towards the key level 266.84 can be expected. Continue long after a break above 227.00 and a correction to it.

Trade recommendation

Wait for a retracement to 183.59-180.02 to buy #FedEx with your take profit at 227.00 and stop loss at 164.86.

#Gazprom,weekly

Wait for a correction to buy #Gazprom.

Technical observation

Gazprom is trading above a supportive zone 150.60-149.14, last week this company’s shares declined in value towards the zone and I still expect more of this movement this week. I expect a correction to the zone 150.60-149.14 followed by a rejection within it to re-buy Gazprom with m y take profit at 173.27 and stop loss at 143.28.In case there’s no rejection within 150.60-149.14 but a clear penetration below it with a big red candle, wait for a correction to the just broken zone and a bounce within it confirming possible bearish rally of this commodity before you sell Gazprom with your take profit at 125.18 and stop loss at 155.69.

Trade recommendation

Wait for a correction to 150.60-149.14 to buy Gazprom.

Imelda Maseno
Analyst of «FreshForex» company
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