#Brent weekly
Technical observation
Last week Brent went up with a big green candle but did not reach the resistance zone 43.00-42.05. This week I still expect this commodity to pull upwards towards the zone followed by a rejection within it for bearish movements. My advice, remain flat and wait for a correction to the above mentioned zone and rejection within it to sell #Brent with your take profit at 24.97 and stop loss at 49.53. In case there is a clear penetration below the line 24.97 with a big red candle, I expect a correction and a rejection at it to confirming further bearish movements of this commodity. I can only advice long positions above the zone 43.00-42.05.
Trade recommendation
Remain flat.
#ASX weekly
Technical observation
The commodity on the weekly chart above pulled intensely to the lower side penetrating below a supportive zone it established around 5639.8-5586.2 with a big red candle. Currently this pair is trading below the zone with an increasing bullish momentum and I expect a loss of this upwards movement within it for bearish rally. Remain flat temporarily and wait for a correction and a rejection within 5639.8-5586.2 to sell #ASX. On your way downwards, the key levels to look for include 4634.9, 3882.9, and 3151.0. Only short positions look ideal for the commodity on the weekly chart above.
Trade recommendation
Remain flat temporarily.
#NIKKEI weekly
Technical observation
For the past several weeks, the commodity on the weekly chart above has been retracing to the resistance zone 20304-20136. #NIKKEI bounced within the abovementioned zone before rallying downwards last week. This week, I expect further bearish momentum towards the supportive zone 17287-17120 and a possible breakout below it. If you sold this commodity within the zone 20304-20136 after a rejection, remain short with your take profit at 17287 and stop loss at 21192. I expect further bearish movements below the zone 17287-17120 towards the key level 14793 or even lower to the supportive level 12203.
Trade recommendation
Remain short with your take profit at 17287.
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