Remain long with #WTI | 21 April 2023

 #WTI weekly

Remain long with #WTI

Technical observation

#WTI bounced within the zone it established at 66.33-64.20 and since then it has been trading with an increasing bullish bias, if you picked bullish positions within the zone I have mentioned above, remain in the trade with your take profit at the level 126.36 and stop-loss at 49.56. Should there be a clear break above the line 126.36 with a big green candle, I expect the value of #WTI to plummet further to the upper side after a correction and a bounce at the broken line, on the other hand, if there is a clear penetration below the zone 66.33-64.20, I anticipate a surge towards the supportive level 9.93 or lower.

Trade recommendation

Remain long with your take profit at 126.36.

#Gas weekly

Remain long with #WTI

Technical observation

The value of the commodity on the weekly chart above has been declining steadily for several weeks now and it is currently trading with an increasing bearish bias slightly above the supportive level 1.531. I expect a continuation of this downwards movement to the level I have mentioned above followed by either a rejection at it or a clear break below it and if you are currently holding short position with this commodity, remain in the trade and pick your profits at the level 1.531. In case of a rejection at the level 1.531, I anticipate a pullback to the resistance zone 5.076-4.915 followed by a possible rejection within it.

Trade recommendation

Remain short with your take profit at 1.531.

#CAC40 weekly

Remain long with #WTI

Technical observation

 The Index on the chart above rose to the resistance level 7384.3 and it is currently trading slightly above it with an increasing bullish bias, however, I expect a loss of this upwards movement followed by a momentum to the lower side. The anticipate surge to the lower side is a correction to the supportive zone 5768.4-5682.1 and I expect a possible bounce within it. My advice, remain flat and wait for a retracement to the zone I have mentioned above then buy a bounce within it with your take profit at 7384.3 and stop-loss at 5185.3. As it is on the chart above, I can only recommend short positions in case of a break below the zone 5768.4-5682.1.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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