We are flat with #Gas | 10 June 2022

#CAC40 weekly

Technical observation

Last week the value of the commodity of the chart above retraced slightly and this week I expect it to continue to the upper side. If you are currently holding long positions with the pair above, remain in the trade with your take profit at 7226.1 and stop loss at 5671.5. In case of a clear break above the level 7226.1 with a big green candle, I expect further upwards movements after a correction to the broken line. On the other hand should there be a clear break below the zone 6145.2-6063.8 with a big red candle, I expect a surge towards the supportive level 4568.4 or even lower to the level marked at 3571.9.

Trade recommendation

Remain long with your take profit at 7226.1.

#Gas weekly

Technical observation

#Gas bounced at the level 9.003 and last week it declined with a big red candle, this week I expect a continuation of this downwards movement to the supportive level it established at 6.520 followed by a rejection at it to pick long positions with my take profit at 9.003 and stop loss at 5.583. In case the value of the commodity above rises above the resistance level 9.003, wait for a pullback to it before you continue long, however, In case of a clear break below the level 6.520, I expect surge to the supportive zone 3.607-3.435 after a correction to the broken line. Right now remaining neutral is ideal than picking any positions.

Trade recommendation

Remain flat.

#SP500 weekly

Technical observation

#SP500 retraced to the supportive zone 3950.7-3900.2 a few weeks ago but could not break below it, instead it bounced within the same zone then rose for a while, last week however, the value of the commodity above declined but could not reach the zone I have mentioned above and as long as it is sustained above it, I expect bullish movements towards the resistance level 4792.9. If you are currently holding bullish positions with the commodity above, remain long with your take profit at 4792.9 and stop-loss at 3608.2. I can only recommend short positions in case of a clear break below the zone 3950.7-3900.2.

Trade recommendation

Remain long with you take profit at 4792.9.