Remain flat with #Gas | 05 May 2023

 #HSI weekly

Remain flat with #Gas

Technical observation

#HSI pulled back to the resistance zone 22713-22263 then bounced within it and since then it has been trading with an increasing bearish bias and as long the value of this index is sustained below the zone I mentioned earlier, I expect a continuation of this downwards movement. If you are already holding short positions, I recommend you remain in the trade with your take profit at 14752 and stop-loss at 25146. In case of a break below the level 14752, wait for a correction and a rejection at it before you continue short with #HSI. On the chart above, I can only recommend bullish positions in case of a break above the zone 22713-22263.

Trade recommendation

Remain short with your take profit at 14752.

# NQ100 weekly

Remain flat with #Gas

Technical observation

Since it bounced within the supportive zone 10455.3-10689.3, the Index #NQ100 has been trading with an increasing bullish bias and this week I expect a further momentum to the upper side. If you picked bullish positions within the zone indicated above, I recommend you remain in the trade with your take profit at 16752.1 and stop-loss at 9117.3. Should there be a clear breach above the level 16752.1, wait for a pullback to it before you continue long with #NQ100, however, if there is a decline below the zone 10455.3-10689.3, you can pick short positions within the broken zone towards the supportive levels 6837.1 and 3430.6.

Trade recommendation

Remain long with your take profit at 16752.1.

#Gas weekly

Remain flat with #Gas

Technical observation

The commodity on the chart above broke below the zone 5.076-4.915 then declined steadily towards the supportive level 1.531 but did not reach it, instead it bounced slightly above the same level and it is currently trading with an increasing bullish bias. This upwards movement is a correction to the zone I have mentioned above and I expect a possible bounce within it followed by a rally to the lower side. My advice, remain neutral and wait for a retracement to the resistance zone 5.076-4.915 then sell a bounce within it with your take profit at 1.531 and stop-loss at 6.100. On the chart above, I can only recommend bullish positions above the zone 5.076-4.915.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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