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Sell #ESTX50 now within 3111.5-3083.9

Sell #ESTX50 now within 3111.5-3083.9 | 05 June 2020

 #CAC40 weekly

Sell #ESTX50 now within 3111.5-3083.9

Technical observation

The commodity on the weekly chart above is trading below a resistance zone 4959.7-4907.2 with an increasing bullish momentum, I expect a loss of this upwards movement within the above-mentioned zone for possible bearish price rally towards the supportive level 3927.0-3877.0. My advice, remain neutral temporarily and wait for a correction to the zone 4959.7-4907.2 and a bounce within it to pick short positions with your take profit at 3927.0 and stop loss at 5172.0. However, in case there is a clear breach above the zone 4959.7-4907.2 I expect possible bullish movements of this commodity.

Trade recommendation

Remain neutral temporarily.

#DAX30 weekly

Sell #ESTX50 now within 3111.5-3083.9

Technical observation

The value of the commodity on the chart above has been rising steadily towards the resistance zone 11725.9-11619.8. I expect a bounce within the zone for bearish movements of the value of this commodity towards the zone 9053.4-8964.1. However, there I still a possibility of a clear penetration above the zone 11725.9-11619.8 with a big green candle. Sell this commodity within 11725.9-11619.8 in case of a rejection with your take profit at 9053.4, however, in case of a clear breach above 11725.9-11619.8, wait for a retracement and a bounce to confirm bullish movements before you buy #DAX30 towards 13471.9.

Trade recommendation

Sell a bounce within 11725.9-11619.8 with your take profit at 9053.4 and stop loss at 12267.5.

#ESTX50 weekly

Sell #ESTX50 now within 3111.5-3083.9

Technical observation

Last week the commodity on the chart above rose up to the resistance zone 3111.5-3083.9 but did not penetrate above it. This week I expect a decline in value of #ESTX50 towards the supportive level 2417.5 followed by a possible breakout below it. Within the zone 3111.5-3083.9 is the ideal place to sell this commodity with your take profit at 2417.5 and stop loss at 3252.1. Should there be a clear penetration above the zone 3111.5-3083.9 with a big green candle, you can anticipate possible bullish movements of this commodity towards the resistance line 3674.0 after a retracement to the just broken zone.

Trade recommendation

Sell #ESTX50 now within 3111.5-3083.9 with your take profit at 2417.5.

Imelda Maseno
Analyst of «FreshForex» company
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