NASDAQ 100 Index Review
Technical Observation;
Last week, NASDAQ 100 Index remained above the three exponential moving averages and is still showing signs of moving even higher. I expect this index to push higher with a take profit at 6100.00. If this line is broken to the upper side, then the price may push even further up towards 6500.00. The only gauge I'm using to determine if the this index will continue upwards are the three moving averages, if they're broken to the lower side, especially the lower 56 Experiential moving average, then I'll expect a move even lower. As at the moment, I'm only interested in long positions.
Technical Levels
Resistance levels
R1: 5917.6
R2: 5918.4
R3: 5919.4
Support Levels
S1: 5914.1
S2: 5914.9
S3: 5915.9
Trade Signal
Look for long positions towards 6500.0.
ASX Review
Technical Observation
With price still within the equilibrium zone 5692.6-5820.1. I'm waiting for a clear indication that the price will end up below the support line 5692.6. If this line is clearly breached to the lower side with a big red candle. then I'll wait for a pullback to the just broken line to pick a short position towards the daily support 5522.9. A break below this line will push the price further to the lower side. That is from a bearish perspective, if the price ascend above the just mentioned equilibrium zone, then I expect a rise towards 6000.0.
Technical levels:
Resistance levels
R1: 6000.1
R2: 5806.1
Support Levels
S1: 5374.3
S2: 5129.6
Trade Signal
Wait for a clear breakout below the support line 5692.6 to short this index towards 5522.9.
Gas Review
Technbical Observation
According to the monthly chart, the gas seems to be pushing towards it's oversold line especially when looked at on stochastic's point of view. I expect a rejection from the 20 line on the stochastic to long this commodity, this rejection is similar to reversal of price from the monthly support line 2.834. If this line is not clearly broken to the lower side with a big red candle, then I expect a rejection from the same line to long Gas towards 4.126. Thus, during the early days of the coming month, I expect a decline of price towards the support line 2.834 to get a precise buy entry.
Technical levels:
Resistance levels
R1: 4.149
R2: 4.870
Support Levels
S1: 1.736
S2: 2.836
Trade Signal
Place a pending Buy limit order around 2.843 with a take profit at 4.126
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