Short Brent within 80.61-78.85 | 31 Agosto 2018

Brent weekly

Technical observation

Brent has been trading below the resistance zone 80.61-78.85 for several weeks now. Unless there’s a clear breakout above this zone with a big green candle I expect a surge to the lower side with an ideal take profit at the support line 61.32 and the next at 44.48.On the other side, should the price breach above 80.61 with a big green candle, then a confirmation will be required to confirm that Brent is headed to the upper side. A correction to the just broken zone followed by a rejection of price within it will be the best confirmation that the price is moving to the upper side towards the resistance 103.06.

Trade signal

Short Brent within 80.61-78.85 with your take profit at 61.32 and stop loss slightly above80.61.

NIKKEI Weekly

Technical observation

NIKKEI has been trading on a downward trend with several corrections at the resistance zone 22912-22680.Right now it is within the zone and I expect a rejection within it followed by bearish momentum towards 20278.I went short previously within 22912-22680 and I’m still looking to short NIKKEI again within the zone with my take profit at 20278 and stop loss slightly above 22912.In case of a clear breakout above 22912-22680 with a big green candle, wait for a correction to the just broken zone followed by a rejection within it before you enter long positions. Now you can short NIKKEI within 22912-22680.

Trade signal

Short NIKKEI within 22912-22680 with your take profit at 20278 and stop loss slightly above 22912 .

WTI Weekly

Technical observation

Light sweet crude oil is trading above a supportive zone 64.18-61.94,currently it is on a bullish bias, I went long previously within 64.18-61.94 and I’m still holding onto this position I expect a rise towards the resistance 76.80 followed by a breakout above it for a further rally towards 93.12. If you are not in any positions right now you can wait for a pull back to 64.18-61.94 to pick low risk long position. In case of clear breakout below the zone, wait for a retracement to the just broken zone followed by a rejection of price within it to confirm downwards movements before you enter short positions .

Trade signal

Rebuy Light Sweet Crude Oil within 64.18-61.94.

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Imelda Maseno

Analyst of «FreshForex» company

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Short Brent within 80.61-78.85 | 31 Agosto 2018

Do you know against which currencies CFD is the most profitable?

Imelda Maseno

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