Remain long with #DAX30 | 05 February 2021

 #ASX weekly

Technical observation

 The value of the commodity on the weekly chart above is trading with an increasing bullish bias between a supportive level 6201.0 and a resistance line 6855.9. I expect a retracement to the supportive line 6201.0 followed by a rejection at it to pick long positions. My advice, remain neutral and wait for a correction to the line 6201.0 and a rejection at it to buy #ASX with your take profit at 6855.9 and stop loss at 5950.5. In case there is a clear breakout above the line 6855.9 with a big green candle, wait for a retracement to it and a bounce confirming possible bullish movements before you continue long.

 Trade recommendation

Remain neutral.

#FTSE100 weekly

Technical observaton

Last week, I anticipated a bounce of the value of this commodity within the supportive zone 6530.0-6467.1, however, it broke below the zone with a big red candle and is currenlty trading with an increaisng bullish bias. As long as this commodity is contained below the zone 6530.0-6467.1, I expect a surge to the lower side. My advice, wait for a correction to the just broken zone and a bounce within it to sell #FTSE100 with your take profit at 5536.5 and stop loss at 6777.5. Should there be a clear break below the line 5536.5, wait for correction to it befroe you continue short towrads 4838.7.

 Trade recommendation

 Wait for a correction to the zone 6530.0-6467.1 to sell #FTSE100.

#DAX30 weekly

Technical observation

Last week, the commodity on the chart above reacted to the supportive level 13413.0; it bounced at the same line and is currently trading with an increasing bullish bias. I expect this upwards movement to continue towards the level 14971.8. If you bought this commodity at the line 13414.0 after a bounce, remain long with your take profit at 14971.8 and stop loss at 12477.7. Should there be a clear breakout below the level 13413.0 with a big red candle, wait for a correction to it and  bounce confirming bearish  movements of #DAX30 before you pick short positions towards the key level 11442.8.

Trade recommendation

Remain long with your take profit at 14971.8.

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