Expecting #Brent to rally towards 46.07. | 25 Agosto 2023

#HSI weekly

Expecting #Brent to rally towards 46.07.

Technical observation

On the weekly chart above, #HSI has been trading with an increasing bearish bias since it bounced within the zone 22713-22263 and this week I expect it to plunge even further to the lower side, in case you already picked short positions within the zone indicated above, remain in the trade with your take profit at 14752 and stop-loss at 24674; a further surge to the lower side can only be expected in case of a clear break below the supportive level 14752, on the other hand, if the value of this index penetrates above the zone I mentioned earlier, I expect it to ascend towards the key level 31096 or higher.

Trade recommendation

 

Remain short with your take profit at 14752. 

#WTI weekly

Expecting #Brent to rally towards 46.07.

Technical observation

#WTI pulled back to the supportive zone 66.33-64.20 then bounced within it and for the past three consecutive weeks it has been trading with an increasing bearish bias, this week I anticipate a further momentum to the upper side and if you already picked bullish positions I recommend that you remain in the trade with your take profit at 126.36 and stop-loss at 51.35. If there was a rise above the level 126.36, wait for a pullback to the broken line and a rejection at it before you continue long, however, if there is a break below the zone 66.33-64.20, I expect the value of #WTI to plummet towards the supportive level 18.67.

Trade recommendation

Remain long with your take profit 126.36.

#Brent weekly

Expecting #Brent to rally towards 46.07.

Technical observation

 On the chart above, the value of #Brent retraced to the resistance zone 89.08-86.78 but could not break above it, instead it bounced within this zone and since then it has been trading with an increasing bearish bias, today I expect a further surge to the lower side and if you are already holding short positions, I recommend that you remain in the trade with your take profit at 46.07 and stop-loss at 103.06. If there is a clear break below the level 46.07 with a big red candle, wait for a correction and a rejection at it before you continue short towards the supportive level 19.15 or lower, I can only recommend bullish positions above the zone 89.08-86.78.

Trade recommendation

Remain short with your take profit at 46.07.

Imelda Maseno
Analyst of «FreshForex» company
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