Remain neutral with #CAC40 | 07 April 2023

#CAC40 weekly

Technical observation

#CAC40 rose to the resistance level 7402.7 but did not break above it; instead it bounced at it and it is currently trading with an increasing bearish, I expect a continuation of this downwards movement to the supportive zone 5768.4-5682.1 followed by either a rejection within it or a clear break below it with a big red candle. My advice, remain neutral and wait for a pullback to the zone indicated above then buy a bounce within it with your take profit at 7402.7 and stop-loss at 5174.6. If there is a clear break below the zone 5768.4-5682.1, wait for a correction to the broken zone before you pick short positions towards 3769.4.

Trade recommendation

Remain neutral.

#XAUUSD weekly

Technical observation

#GOLD is trading with an increasing bearish bias below the resistance 2017.15, this bearish movement is a slight retracement to the lower side and I expect a loss of I followed by a surge to the upper side. If you are currently holding bullish positions with the pair above, I recommend that you remain in the trade with your take profit at 2017.15 and stop-loss at 1534.93. If there is a clear break above the level 2017.15 with a big green candle, wait for a correction to the broken line before you continue long , as it is on the chart above as long as the value of this commodity is contained above the zone 1673.28-1643.25 I can only recommend bullish positions.

Trade recommendation

Remain long with your take profit at 2017.15.

#WTI weekly

Technical observation

On the weekly chart above #WTI is trading with an increasing bullish bias and I expect a continuation of this upwards movement to the resistance zone 81.8-78.89 followed by a rejection within it. My advice, remain flat and wait for a pullback to the zone I have indicated above then sell a bounce within it with your take profit at 43.97 and stop-loss at 97.70. If there is a clear break below the level 43.97 with a big red candle, I expect the value of this commodity to descend further towards the key level 9.93 or lower, but if there is a clear break above the 81.8-78.89, I expect a possible bullish movement towards 126.36.

Trade recommendation

Remain neutral temporarily.