I expect #ASX to rally towrads 7613.3 | 09 Diciembre 2022

 #Brent weekly

I expect #ASX to rally towrads 7613.3

Technical observation

#Brent pulled back to the supportive zone 85.75-83.11 then bounced within it and last week it rose with a big green candle, this week i expect a further momentum to the upper side and in case you already picked bullish positions, I recommend that you remain in the trade with your take profit at 126.20 and stop-loss at 69.64.  In case of a clear penetration above the level 126.20, I expect the value of #Brent to ascend further after a retracement to the broken line, on the other hand, if there is a clear break below the zone 85.75-83.11 I expect #Brent to plummet towards the supportive level 46.50 or even lower to the line 19.15.

Trade recommendation

Remain long with your take profit at 126.20.

#Gold weekly

I expect #ASX to rally towrads 7613.3

Technical observation

Gold has been trading with an increasing bullish bias for the past three consecutive weeks and as long as it remains above the zone 1673.28-1643.25 I expect it to rally further to the upper side. If you picked bullish positions within the zone I have mentioned above, I recommend that you remain in the trade with your take profit at 2034.43 and stop-loss at 1527.9. Should there be a clear break above the level 2034.43 with a big green candle, I expect the value of Gold to surge further to the upper side after a correction and a rejection to the broken line. A surge to the lower side can only be expected in case of  a break below the zone 1673.28-1643.25

Trade recommendation

Remain long with your take profit at 2034.43.

#ASX weekly

I expect #ASX to rally towrads 7613.3

Technical observation

#ASX retraced to the supportive zone 6503.6-6440.1 but did not break below it, instead it bounced within it and since then it has been trading with an increasing bullish bias. This week I expect a continuation of tis upwards movement and in case you are currently holding bullish positions, I recommend that you remain long with your take profit at 7613.3 and stop-loss at 5949.3. If there is a clear break above the level 7613.3 with a big green candle wait for a correction and a rejection at it before you continue long. I can only recommend short positions in case of a clear break below the zone 6503.6-6440.1.

Trade recommendation

Remain bullish with your take profit at 7613.3.

Imelda Maseno
Analyst of «FreshForex» company
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