#WTI weekly
Technical observation
For weeks now the commodity in the chart above has been decline steadily towards the supportive zone 51.80-52.70. I expect this bearish movement to continue to the zone mentioned above followed by a rejection within it for a momentum to the upper side. My advice remain neutral and wait for a correction to the zone mentioned above a bounce within it to buy #WTI with your take profit at the resistance level 66.45 and stop loss at 43.83. In case of a clear break above the level 66.45, I anticipate a further surge to the upper side to the upper resistance level 81.22. I can only recommend bullish position for #WTI.
Trade recommendation
Remain flat.
#Gas weekly
Technical observation
Last week, the value of # Gas rose towards the resistance line 3.421, right now it is still trading with an increasing bullish bias above the supportive zone 2.299-2.234 and as long as it is contained above this zone I expect only an increase to the upper side, however, In case of a break below the same zone, I expect a rally to the lower side towards the key level 1.517. If you are currently long with this pair, remain in the trade with your take profit at 3.421 and stop loss at 1.971, in case of breakout above the line 3.421 with a big green candle, wait for a correction to the just broken line before you continue long towards 4.398.
Trade recommendation
Remain long with your take profit at 3.421.
#XAUUSD weekly
Technical observation
#XAUUSD is trading with an increasing bearish bias below a resistance zone 1784.55-1.1760, I expect this bearish rally to continue to the supportive level 1449.85 followed by either a clear breakout below it with a big red candle, or a bounce at it followed by a retracement to the zone mentioned above. If you sold this commodity within the zone 1784.55-1.1760 after a bounce, remain short with your take profit at 1449.85 and stop loss at 1855.66. In case of a penetration below the line 1449.85 with a big red candle, wait for a correction to the just broken line before you continue short towards the lower supportive level 1162.39.
Trade recommendation
Remain short with your take profit at 1449.85.
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