Sell #WTI within 40.71-39.50 | 17 July 2020

 #WTI weekly

Sell #WTI within 40.71-39.50

Technical observation

The value of the commodity on the weekly chart above retraced to a resistance zone it established around 40.71-39.50. Last week, this commodity rose and closed within the above-mentioned zone with a green candle.  If you are currently neutral with this pair, within the zone 40.71-39.50 is the ideal place to sell this commodity with your take profit at 18.21 and stop loss at 48.66. In case there is a clear breakout above the zone 40.71-39.50 with a big green candle, wait for a correction and a rejection within it to confirm possible bullish movements of #WTI before you pick long positions towards 63.48.

Trade recommendation

Sell #WTI within 40.71-39.50 with your take profit at 18.21.

#HSI weekly

Sell #WTI within 40.71-39.50

Technical observation

Last week, the value of the commodity on the chart above penetrated above a resistance zone 25376-25113 and closed as a bullish pin bar above the zone. This is a possible bullish dominance signal and this commodity could surge further to the upper side. My expectation is a correction to the just broken zone 25376-25113 followed by a rejection within it for upwards movements towards the key level 28799. My advice, wait for a correction to the zone 25376-25113 and a bounce within it to buy #HSI with your take profit at 28799 and stop loss at 24024. Remain long in case of a clear breach above the line 28799.

Trade recommendation

Wait for a correction to 25376-25113 to buy #HSI.

#CAC40 weekly

Sell #WTI within 40.71-39.50

Technical observation

#CAC40 retraced to a supportive zone 4732.0-4672.0 but did not reach it. This week I expect further bearish rally towards the zone followed by a bounce within it for bullish movements towards the key level 5679.4. My advice, wait for a correction to the zone 4732.0-4672.0 and a rejection within it to buy #CAC40 with your take profit at 5679.4 and stop loss at 4467.0. If this take profit triggered and there is a clear break above it with a big green candle, wait for a correction the just broken line to confirm further bullish movements before you continue long with this commodity towards the resistance line 6154.1.

Trade recommendation

Wait for a correction to the 4732.0-4672.0 to buy #CAC40.

Imelda Maseno
Analyst of «FreshForex» company
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