Remain flat with #NIKKEI | 06 March 2020

 Gazprom weekly

Remain flat with #NIKKEI

Technical observation

Last week a clear breakdown was seen when the value of this commodity went down below a supportive zone 215.65-212.04 with a big red candle and as long as it is contained below it, only bearish movements can be anticipated. Right now a correction to the just broken zone followed by a bounce within it is expected. Wait for retracement to the zone 215.65-212.04 and a rejection within it to sell this commodity with your take profit at 171.09 and stop loss at 232.09. Further downward movements towards the level 132.69 can be expected in case of a clear breakout below the zone 171.09-168.20.

Trade recommendation

Wait for a retracement to 215.65-212.04 to sell Gazprom.

#ASXweekly

Remain flat with #NIKKEI

Technical observation

ASK corrected itself to a supportive zone it established around 6401.7-6358.5 but ended up breaking below it with a big red candle. ThisI expect a retracement to the just broken zone followed by bounce within it for bearish price movements towards the supportive zone 5637.9-5598.0. The best idea is to remain flat and wait for a correction to the above-mentioned zone followed by a rejection within to sell this commodity with your take profit at 5637.9 and stop loss at 6613.2. More bearish movements towards 4811.7 can be expected in case price reaches the level 5598.0 and penetrate below it.

Trade recommendation

Remain flat.

#NIKKEI weekly

Remain flat with #NIKKEI

Technical observation

The value of the commodity on the weekly chart above is declining steadily towards a supportive zone 20304-20136. I expect either a clear breakout below the zone with a big red candle or a bounce within it. In case of a clear breach below the zone mentioned above wait for a correction to it followed by a rejection within it to sell this commodity. On your way downwards the key levels to look for include, 1722, 14793 and 12203. However, in case there’s no break below the zone then bullish movements towards the key level 24213 can be expected after a correction to the zone 20304-20136.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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