Last week the value of the commodity on the weekly chart above declined and penetrated below a supportive level 57.80 with a big red candle. Currently, it is trading below the just broken line with an increasing bullish bias and I expect a loss of this upward movement at the resistance line for possible bearish rally towards the level 43.26. Wait for the correction to 57.80 and a bounce at it to sell #Brent with your take profit at 43.26 and stop loss at 63.02. In case there is a breach above 57.80 instead of a rejection at it, then possible bullish movements can be expected after a retracement to the line.
Wait for a correction to 57.80 to sell #Brent.
On the weekly chart above #HSI went down last week as I had predicted and I still expect more bearish movements towards the supportive level 24871. If this commodity declines to the level 24871, either a clear breakout below it with a big red candle or a rejection at it can be expected. In case of a penetration below the line, wait for a correction to it and a bounce before you pick short positions towards 19591, however, should there be no breakout below the line but a rejection at it, remain neutral and wait for a retracement to the resistance zone 29097-28788 and a rejection within it to re-sell #HSI.
Remain short with your take profit at 24871.
#WTI last week broke below a supportive zone 52.94-51.91 and is currently trading below the zone, if you previously sold this commodity at the resistance line 64.00, within the zone 52.94-51.91 was the ideal place to pick your profits. As it is on the weekly chart above, a pullback to the just broken zone is expected followed by a rejection within it for bearish rally towards the key line 42.27. My advice, wait for a retracement to 52.94-51.91 and a rejection within it to sell #WTI with your take profit at 42.27.As long as price is contained below the zone 52.94-51.9, only short positions look ideal and may be recommended.
Wait for a retracement to 52.94-51.91 to sell #WTI.