#SP500 weekly
Technical observation
The commodity on the chart above is trading with an increasing bearish bias at 4408.0; I expect this bearish movement to continue to the level 4147.5 followed by a bounce at it for a rally to t upper side. In case there is no rejection at the level 4147.5 but a clear breakout below it with a big red candle, wait for a retracement to the just broken line and a bounce at it to pick short positions towards the supportive level 3697.3. On your way downwards the key levels to look for include 3697.3, 3219.7, the lower supportive zone 2782.1-2740.1 and the supportive level 2206.4. As long as #SP500 is contained above 4147.5, I can only recommend bullish positions.
Trade recommendation
Wait for a correction to 4147.5 to buy # SP500.
#BTCUSD weekly
Technical observation
Last week the value of the commodity on the weekly chart above rose with a big green candle and it is showing signs of rising even further, as long as price is contained above the zone 31925.99-30860.26, I expect the value of this commodity to plummet further to the upper side to the level 44241.27, However, in case of a clear breakout below the same zone with a big red candle, I expect a retracement to it and a rejection within the zone for a momentum to the lower side. My advice, if you bought BTC within the zone 31925.99-30860.26 after a bounce, remain long with your take profit at 44241.27 and stop loss at 23400.10.
Trade recommendation
Remain long with your take profit at 44241.27.
#WTI weekly
Technical observation
#WTI is trading with an increasing bearish bias below the resistance level 78.80, this bearish movement is a retracement to the supportive zone 59.77-58.74 and I expect a loss of it within the zone for a momentum to the upper side. Right now I would advise you remain neutral with this commodity and wait for a correction to the zone i have mentioned above and a rejection within it to buy this commodity with your take profit at 74.80 and stop loss at 51.80. In case the value of this commodity is not contained above the zone 59.77-58.74 and instead it penetrates below it with a big red candle, I expect bearish movements after a retracement to the broken zone.
Trade recommendation
Remain neutral.