We're flat with #NIKKEI | 15 May 2020

 #Brent weekly

We're flat with #NIKKEI

Technical observation

Brent is retracing to a resistance zone it established around 43.00-42.05, I expect a bounce within the zone for possible bearish movements. My advice, remain flat and wait for a correction to the above mentioned zone and a bounce within it to sell Brent with your take profit at 24.97 and stop loss at 49.66. In case there is a clear breach below the line 24.97 with a big red candle, wait for a correction and a rejection at it to continue short with this commodity. As it is on the weekly chart above I can only recommend short position. I anticipate bullish movements of this commodity in case of a break above 43.00-42.05.

Trade recommendation

Wait for a correction to 43.00-42.05 to sell Brent.

#Gazprom weekly

We're flat with #NIKKEI

Technical observation

The value of the commodity on the weekly chart above is rallying between a supportive zone 171.09-168.30 and a resistance zone 215.65-212.04. I expect bullish movements to the resistance zone followed by a rejection within it. However, this commodity could still decline to the support and penetrate below it with a big red candle. My advice, remain neutral and wait for a rise to the zone 215.65-212.04 and a bounce within it to sell #Gazprom. In case of a break below the supportive zone 171.09-168.30, wait for a retracement and a bounce at it to sell #Gazprom with your take profit at the key level 132.69.

Trade recommendation

Remain flat.

#NIKKEI weekly

We're flat with #NIKKEI

Technical observation

Last week the value of the commodity on the weekly chart above rose with big green candle and closed within the resistance zone 20304-20136. This commodity however is still showing signs of rising even further and could penetrate above the zone 20304-20136. My advice, remain flat temporarily and wait for a clear bounce within the resistance zone mentioned above to sell #NIKKEI with your take profit at 17287-17120 and stop loss at 21376. In case of a clear breakout above 20304-20136, wait for a pullback to it and a rejection to confirm possible bullish movements before you pick long positions.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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