Wait for a correction to buy #SP500 | 12 March 2021

 #IBEX35 weekly

Technical observation

 Despite the correction to the upper side, the commodity on the weekly chart above is still below the zone 8477.6-8384.5 and as long as it is contained below this zone, I expect a possible rally to the lower side. My advice, wait for a correction to the zone mentioned above and a bounce within it to sell #IBEX35 with your take profit at 6398.8 and stop loss at 9016.0. In case of a clear breakout above the zone 8477.6-8384.5 with a big green candle, wait for a correction to the just broken zone and a rejection within it before you buy this commodity. Right now as it is, I can only recommend short positions.

 Trade recommendation

 Sell a bounce within 8477.6-8384.5 with your take profit at 6398.8.

#NIKKEI weekly

Technical observation

For several weeks now, the value of the commodity on the weekly chart above has been pulling intensely to the lower side. This bearish movement is a correction to the supportive zone 27688 and I expect a loss of it at the same line for a surge to the upper side. My advice, remain flat and wait for a correction to the line 27688 and a bounce at it to buy #NIKKEI with your take profit at 30693 and stop loss at 26213. In case of a clear penetration below the line 27688 with a big red candle, you can anticipate the value this commodity to plummet to the lower side towards the supportive level 24140.

 Trade recommendation

 Remain flat.

#SP500 weekly

Technical observation

 #SP500 established a weekly supportive zone around 3554.4-3519.2. After a retracement and a bounce within the zone, this commodity rose up to the resistance line 3941.8 but could not break below it. I expect a correction to the supportive zone mentioned above followed by a bounce within it to pick long positions towards the key line 3941.8. In case of a clear breakout above the line 3941.8 with a big green candle, wait for a correction to the just broken line before you continue long with this pair. On the weekly chart above, as long as price is contained above the supportive zone, I can only recommend bullish positions.

Trade recommendation

 Wait for a correction to the zone 3554.4-3519.2 to buy# SP500.