Remain flat with #Gas | 29 Octubre 2021

#WTI weekly

Technical observation

 The value of the commodity on the chart above rose and broke above a resistance zone 76.93-75.17 with a big green candle and since then it has been trading with an increasing bullish bias. My expectation is a loss of this bullish movement followed by a correction to the zone I have mentioned above and a rejection within it to buy #WTI with my take profit at 95.60 and stop loss at 66.94. In case of a clear break above the level 95.60 with a big green candle I expect the value of this commodity to ascend further towards 112.12, on the other hand, in case of a break below the zone 76.93-75.17, I expect a surge to the lower side.

 Trade recommendation

Wait for a correction to the zone 76.93-75.17 to buy #WTI.

#XAUUSD weekly

Technical observation

On the weekly chart above, Gold retraced to the supportive zone it established at 1762.66-1744.43 but could not break below it, it bounced within the zone and is currently increasing towards the resistance level 1965.08. If you are currently holding bullish positions with this pair, remain in the trade with your take profit at 1965.08 and stop loss at 1675.14.In case of a clear breakout above the key level 1965.08 with a big green candle, I expect further bullish movements of price, on the other hand in case of a clear penetration below the zone 1762.66-1744.43 with a big red candle, I expect a decrease towards 1454.4.

 Trade recommendation

Remain long with your take profit at 1965.08.

#Gas weekly

Technical observation

The commodity on the weekly chart above is trading with an increasing bullish bias between a supportive level 4.948 and a resistance level 6.511. I expect either a continuation of this upwards movement to the resistance level I have mentioned above followed by a clear breakout above it with a big green candle, or a loss of this bullish movements followed by a retracement to the supportive level 4.948. If this is the case, buy a bounce at the level 4.948 with your take profit at 6.511 and stop loss at 4.478. As long as price is contained above the level 4.948, I can only recommend bullish positions for this commodity.

 Trade recommendation

Remain neutral.