We are neutral with #HSI | 02 December 2022

HSI weekly

Technical observation

#HSI declined to the supportive level 14752 then bounced at it and rose for a while, but for the past two consecutive weeks the value of this company’s shares rallied slightly to the lower side, however, this week, I expect a surge to the upper side. The anticipated bullish movement is a correction to the zone 22455-22169 and I expect a possible bounce within it. My advice, remain neutral and wait for a correction to the zone indicated above then sell a bounce within it with your take profit at 14752 and stop-loss at 25211. I can only recommend bullish positions in case of a clear break above the zone 22455-22169.

Trade recommendation

Remain neutral.

#DJI30 weekly

Technical observation

#Dow Jones pulled back to the supportive zone 29168-28724 but did not break below it, instead it bounced within the same zone and since then it has been trading with an increasing bullish bias. This week I expect a further momentum to the upper side and in case you are currently holding bullish positions, I recommend that you remain in the trade and pick your profits at the level 36500. In case of a break above the level 36500 with a big green candle, wait for a pullback and a bounce at it before you continue long, on the other hand, if there is a clear break below the zone 29168-28724,you can anticipate bearish movements towards the level 22503.

Trade recommendation

Remain bullish with your take profit at 36500.

#SP500 weekly

Technical observation

The commodity on the chart above has been trading with an increasing bullish bias since it bounced within the supportive zone 3590.6-3523 and as long as it is sustained above this zone, I expect a continuation of this upwards movement. If you are currently holding bullish positions with the pair above, I recommend that you remain in the trade with your take profit at 4791.3 and stop-loss at 3208.8 and should there be a clear break above the level 4791.3 with a big green candle, continue long with #SP500 after a correction and a bounce at the broken line. On the weekly chart above, I can only recommend short positions below the zone 3590.6-3523.

Trade recommendation

Remain long with your take profit at 4791.3.