Expecting #WTI to rally to 83.75 | 17 December 2021

 #Gas weekly

Technical observation

Last week the value of the commodity on the weekly chart above went with up as I had anticipated and this week I expect a further momentum to the resistance zone 5.685-5.562. If you picked long positions within the supportive zone 3.798-3.711 after a bounce, remain long with your take profit at 5.562 and stop loss at 3.155. As long as #Gas is sustained above the zone 3.798-3.711, I can only recommend bullish positions for this commodity, further upwards movements can be anticipated in case of a penetration above the zone 5.685-5.562, on the flip side, should there be a clear breakout below the zone 3.798-3.711, I expect bearish movement towards the level 2.071.

 Trade recommendation

 Remain long with your take profit at 5.562.

#WTI weekly

Technical observation

#WTI retraced to the supportive zone 63.42-61.69 but could not break below it, it bounced within the zone and last week the value of this commodity rose with a big green candle, I expect a continuation of this upwards movement to the resistance level 83.75 followed by either a clear breakout above it with a bog green candle or a bounce at it followed by another correction to the zone 63.42-62.69.  If you are currently long with #WTI remain bullish with your take profit at 83.75 and stop loss at 52.75, on the other hand if you are neutral with this commodity, remain flat and wait for another retracement to the zone 63.42-61.69 to pick long positions.

 Trade recommendation

Remain long with your take profit at 83.75.

#NIKKEI weekly

Technical observation

Last week #NIKKEI rose with a big green candle and this week I still expect a continuation of this upwards movement towards the resistance level 30299. If you picked long positions within the supportive zone 27146-26880 after a bounce, remain long with your take profit at 30299 and stop loss at 25436. In case this commodity is not sustained above the zone 27146-26880 but instead it clearly penetrates below it with a big red candle, I expect the value of #NIKKEI to plummet to the lower supportive level 24169 after a pullback to the broken zone , further bearish  movements can be anticipated below the level 19266.

 Trade recommendation

 Remain long with your take profit at 30299.