Start
trading

Main >
Analytics
>
Fresh forecast
>
Forex Technical Analysis: Trend potential
>
Remain Short with Brent

Remain Short with Brent | 03 July 2020

 #CAC40 weekly

Remain Short with Brent

Technical observation

The commodity on the weekly chart above continue to rally with an increasing bullish momentum above a supportive zone it established around a supportive zone 4732.0-4672.0. I expect this upwards movement to continue to the resistance line 5679.4 followed by either a clear penetration above it with a big green candle or a bounce at it followed by a retracement to the zone 4732.0-4672.0. My advice, if you are currently long with this commodity, remain in the trade with your take profit at 5679.4 and stop loss at 4472.0. Short positions may only be recommended below the zone re4732.0-4672.0 towards 3927.0.

Trade recommendation

 

Remain long with your take profit at 5679.4.

#DAX30 weekly

Remain Short with Brent

Technical observation

 Last week the value of the commodity in the weekly chart above declined towards the supportive zone 1725.9-11619.0 but did not reach it. This week, I expect further decline towards the zone followed by a bounce within it for bullish movements. My advice, wait for a correction to the above mentioned zone and a rejection within it to pick long positions with your take profit at 13471.9 and stop loss at 11122.2. If this take profit is hit and there is a clear breakout above it with a big green candle, wait for a pullback to it and a bounce confirming further bullish movements before you continue long.

Trade recommendation

Wait for a correction to 1725.9-11619.0 to buy #DAX30.

#Brent weekly

Remain Short with Brent

Technical observation

After a rejection within the resistance zone 44.23-43.33, the value of the commodity on the weekly chart above declined and closed bearish. This week I expect further bearish movements towards the supportive line 24.97 followed by either a clear breakout below it with a big red candle, or a bounce at 24.97 followed by a pullback to the zone 44.23-43.33. If you sold #Brent within the zone 44.23-43.33 after a bounce, remain short with your take profit at 24.97 and stop loss at 49.53.If you are currently neutral with this commodity, remain so and wait for another correction to 44.23-43.33 and a bounce to pick short position.

Trade recommendation

Remain short with your take profit at 24.97.

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.