Remain long with #Brent | 14 October 2022

 #NIKKEI weekly

Technical observation

Last week #NIKKEI rose with a big green candle and this week I expect it to rally further to the upper side, if you are holding bullish positions with the commodity above, I would advise that you remain in the trade with your take profit at 30293 and stop-loss at 23138. In case the value of NIKKEI rises above the level 30293 with a big green candle, you can wait for a correction and a rejection at the broken line before you continue long, on the other hand if there is a break below the zone 25458-25126, I anticipate possible bearish movements towards the supportive level 19807 after a pullback to the broken zone.

Trade recommendation

Remain bullish with your take profit at 30293.

#Brent weekly

Technical observation

 #Brent bounced within the zone 86.78-84.85 and since then it has been trading with an increasing bullish momentum. This week I expect a continuation of this upwards movement and if you are currently holding long positions with the commodity above I would recommend that you remain in the trade with your take profit at 126.20 and stop-loss at 71.99. If there is a clear break above the level 126.20, I expect the value of #Brent to ascend further, however, in case of a break below the zone 86.78-84.85; I expect the value of this commodity to plummet towards the supportive levels 46.50 and 19.50.

Trade recommendation

Remain long.

#XAUUSD weekly

Technical observation

For the past two consecutive weeks the commodity on the chart above has been trading with an increasing bullish bias and as long as it is sustained above the zone 1675.07-1643.54, I expect a continuation of this upwards movement. If you picked long positions within the zone indicated above after a bounce, I would recommend that you remain in the trade with your take profit at 2037.38 and stop-loss at 1563.90. Should there be a clear penetration below the zone 1657.07-1643.54 with a big red candle, I expect the value   the commodity above to plummet towards the supportive level 1372.29 or even lower to 153.92.

Trade recommendation

 Remain long with your take profit at 2037.38.