Buy #Brent within 94.49-91.92 | 12 August 2022

#CAC40 weekly

Technical observation

For several weeks now, the value of the commodity on the weekly chart above has been trading with an increasing bullish bias and as long as it is sustained above the supportive zone 5886.1-5767.7, I expect a continuation of this upwards movement. If you are currently holding bullish positions, I would recommend that you remain long with your take profit at 7218.7 and stop-loss at 5182.9 and if there is a clear break above the level 7218.7, continue long after a pullback to the broken line and a rejection at it. As it is on the weekly chart above, I can only recommend short positions in case of a clear penetration below the supportive zone 5886.1-5767.7.

Trade recommendation

Remain long with your take profit at 7218.7.

#XAUUSD weekly

Technical observation

 For the past three consecutive weeks the value of #Gold has been trading with an increasing bullish momentum above the supportive zone 1706.60-1685.58 and this week I expect a continuation of this upwards movement towards the resistance level 2034.17. If you picked long positions within the zone mentioned above after a bounce, remain in the trade with your take profit at the level 2034.17 and stop-loss at 1590.99, and continue long after a clear break above the line 2034.17. You can only expect a possible surge to the lower side in case of a clear breakout below the zone indicated above with a big red candle.

Trade recommendation

Remain long with your take profit at 2034.17.

#Brent weekly

Technical observation

Last week the value of #Brent declined to the supportive zone 94.49-91.92 but could not break below it, instead it closed above the zone and this week I expect possible bullish movements of towards the resistance level 126.74. If you are currently flat with the commodity above, my advice is pick long positions now within the zone I have mentioned above with your take profit at 126.74 and stop-loss at 81.42. I can only recommend short positions in case of a clear break below the zone 94.49-91.92 with a big red candle, on your way downwards the key levels to look for include; 57.22 and the supportive level 21.83.

Trade recommendation

Buy #Brent within 94.49-91.92 with your take profit at 126.74.