#WTI weekly
Technical observation
The value of the commodity on the weekly chart above rose up to a resistance line 66.45 but could not break above it. It bounced at the line and is currently trading with an increasing bearish momentum. This bearish movement is a correction to the zone 52.70-51.80 and I expect a bounce within the same zone for a surge to the upper side. My advice, remain flat and wait for a correction to the zone mentioned above a rejection within it to buy #WTI with your take profit at 66.45 and stop loss at 43.96. In case of a clear breakout above the line 66.45 with a big green candle, I expect further bullish movements towards 81.22.
Trade recommendation
Remain flat.
#Gas weekly
Technical observation
The commodity on the weekly chart above is trading with an increasing bearish bias above a supportive zone it established at 1.299-2.234; I expect a loss of this bearish rally within the same zone for a momentum to the upper side. My advice wait for a correction to the zone mentioned above and buy a bounce within it with your take profit at 3.421, in case of a break above the line 3.421 with a big green candle, wait for a pullback to it and a bounce confirming a further momentum to the upper side before you continue long with #Gas. As it is on the chart above, I can only recommend bullish positions above 1.299-2.234.
Trade recommendation
Wait for a correction to 1.299-2.234 to buy #Gas.
#XAUUSD weekly
Technical observation
XAUUSD declined and penetrated below a supportive zone 1784.55-1762.66 with a big green candle then retraced to it and was contained below the zone. As long as XAUUSD is contained below the same zone, you can only anticipate it to plummet to the lower side towards the supportive level 1449.95. My advice, if you picked short positions within the zone mentioned above after a bounce remain in the trade with your take profit at 1449.85 and stop loss at 1855.66. Should there be a clear breakout below the level 1.1449.85 with a big red candle, expect a further bearish momentum towards the supportive level 1162.39.
Trade recommendation
Remain short with your take profit at 1449.95.
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