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Wait for a correction to sell #NIKKEI

Wait for a correction to sell #NIKKEI | 20 Marzo 2020

 #Gazprom weekly

Wait for a correction to sell #NIKKEI

Technical observation

Last week’s market closed with a bullish hammer candle around the supportive level it established at 167.84-165.82, this could potentially signify the end of the bearish movement of the value of this commodity. A reversal in the direction of the value of #Gazprom can be anticipated. Buy this commodity within the above-mentioned zone with your take profit at 212.04 and stop loss at 156.53. Should there be no rise to the level 212.04 but a decline below 167.84-165.82 with a big red candle, wait for a pullback to the zone  and a rejection within it to sell this commodity with your take profit at 132.69.

Trade recommendation

Buy #Gazprom within 167.84-165.82 with your take profit at 212.04.

#ASX weekly

Wait for a correction to sell #NIKKEI

Technical observation

Last week the value of this commodity declined with a big red candle sending a tail to the supportive level marked at 4811.7 but still closed above the supportive zone 5637.9-5598.0. A reverse in the direction of movement of this commodity can be expected towards the resistance zone 6401.7-6358.5. You can place a buy order within the supportive zone 5637.9-5598.0 with your take profit at 6358.5 and stop loss at 5340.1. In case there’s no rise but a clear breach below 5637.9-5598.0, wait for a retracement to the just broken zone before you pick short positions within it towards the key level 4811.7.

Trade recommendation

Buy #ASX within 5637.9-5598.0 with your take profit at 6358.5.

#NIKKEI weekly

Wait for a correction to sell #NIKKEI

Technical observation

After its penetration below a supportive zone 20304-20136, the commodity on the weekly chart above continued to decline even further with a big red candle. This week a correction to the just broken zone can be expected followed by a bounce within it. If you are currently neutral with the commodity on the chart above, wait for a retracement to it and a bounce before you pick short positions with your take profit at 17232 and your stop loss at 21216. As long as the value of #NIKKEI is contained below the zone 20304-20136, only short positions look ideal and may be recommended.

Trade recommendation

Wait for a correction to the zone 20304-20136 to sell.

Imelda Maseno
Analyst of «FreshForex» company
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