Start
trading

Main >
Analytics
>
Fresh forecast
>
Forex Technical Analysis: Trend potential
>
Wait for a correction to sell #WTI

Wait for a correction to sell #WTI | 07 June 2019

 #HSI weekly

Wait for a correction to sell #WTI

Technical observation

Ever since the commodity on the weekly chart above penetrated below a supportive zone 29367-29044, its value has been declining steadily and my expectation is a correction to the just broken zone followed by a bounce within it for bearish rally towards the support 25235 and a possible breach below it for a further decline towards 21472.Remain flat and wait for a correction to zone 29367-29044 and a rejection within it to sell #HSI with your take profit at 25235 and stop loss at 30600, continue short after a clear penetration below the line 25235 with a big red candle followed  by a correction and a rejection at it.

Trade recommendation

Remain flat.

#SP500 weekly

Wait for a correction to sell #WTI

Technical observation

#SP500 rose to a resistance line 2943.9 but could not break above it, it was rejected and is currently pulling back to a supportive zone 2681.1-2655.6 and my expectation is a clear rejection of this company’s shares within the above mentioned zone for bullish momentum towards 2943.9 and a possible break above the line for a further rise. Right now i would advise you remain neutral and wait for a decline to 2681.1-2655.6 and a bounce within it to buy these shares with your take profit at 2943.9 and stop loss at 2566.3.As long as #SP500 is contained above the zone 2681.1-2655.6, only long positions can be recommended.

Trade recommendation

Remain neutral.

#WTI weekly

Wait for a correction to sell #WTI

Technical observation

The commodity on the weekly chart above went above a resistance zone 61.41-59.88 but could not be contained above it, it then penetrated below the same zone with a big red candle and last week it went down and we can still expect more bearish really this week. I expect a correction to the just broken zone and a rejection within it for downwards movement of this commodity towards the key line 43.20.My advice, wait for a correction to the zone 61.41-59.88 and a rejection within it to sell #WTI with your take profit at 43.20 and stop loss at 66.55, in case of a break below 43.20, continue short with your take profit at 27.59.

Trade recommendation

Wait for a correction to the zone 61.41-59.88 and a rejection within it to sell #WTI.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:

Close
Log in

Show password

Hide password

 Forgot password?
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .

Our best awards:

FreshForex is a brand that provides access to online trading for clients from more than 158 countries all over the world. The Company's partners are the licensed European liquidity providers, banks, payment aggregators and systems with which the company has been cooperating for more than 19 years.
Clients must be at least 18 years old to use the services of the Company.
The company's services and information on the site are not intended for citizens and residents of some countries, such as Belgium, China, North Korea, France, Hong Kong, Russian Federation, Spain, Great Britain, USA, and also countries identified by the FATF as high-risk countries or countries with serious AML/CFT deficiencies; countries or regions that are under international sanctions. A complete list is available on the "Countries where the company's services are not provided" page. The Company does not have representative offices in the Russian Federation and does not register clients from the Russian Federation.
Risk Warning: Trading financial instruments with leverage carries high risks and can result in both profits and losses. Potential losses are limited by the deposit amount. Before deciding to trade, the client should assess their risk tolerance, experience, and knowledge level.

Freshforex.com uses cookies for better website operation, traffic flow analysis, and personalization. By using this website you agree to our Cookie Policy.
User Data privacy is protected in accordance with GDPR. The SSL certificate installed on the website transfers the information over a secure protocol.
The site contains links to websites of third parties. The Company does not check or control the third-party resources that are in any way related to the FreshForex site, so the Company is not responsible for any third-party information or materials posted.
By creating a link to a third party website, the Company does not endorse or recommend any products or services offered by the third party.
The website content is intended for informational purposes only. It should not be regarded as an offer or solicitation to any person in any jurisdiction in which such an offer or solicitation is not authorized. It also should not be considered as an offer/solicitation to any person to whom it would be unlawful to make such an offer or solicitation, nor regarded as a recommendation to buy, sell or otherwise deal with any particular currency or any other trading asset investment. If you are not sure about your local trading regulations, please, leave this website immediately.
© 2004—2024 FreshForex – Forex broker
Reproduction of the contents is allowed only with active hyperlink to original source.
Riston Capital Ltd (20623 BC 2012) with registered address at Suite 305, Griffith Corporate Centre, Beachmont, P.O. Box 1510, Kingstown, Saint Vincent and the Grenadines.