Short Brent within 80.61-78.85 | 10 August 2018

Brent weekly

Technical observation

Brent has been trading on a downward trend with retracements at the resistance zone 80.61-78.85 before rallying down. Currently it is pulling back to the zone and I expect a rejection within it for possible bearish momentum towards the support 61.32.My advice, wait for the correction to 80.61-78.85 then short Brent within it with your ideal target at 61.32 and stop loss slightly above 80.61.In case of a breakout above 80.61, wait for a correction to it to confirm bullish movement of Brent before you enter long positions. Right now only short position can be recommended within the zone 80.61-78.85.

Trade signal

Wait for a correction to 80.61-78.85 to short Brent.

         Gazprom weekly

Technical observation

For several weeks now, Gazprom has been trading on an upward trend with retracements at the key support zone 136.48-134.98.For the past two weeks, it has been rallying up towards 157.77 and I still expect a further rise to it. If you are in a trade right now, remain long with your ideal target at 157.77.If you had not bought it yet, Wait for a pullback to the zone then long Gazprom after a rejection within the zone with your take profit at 157.77 and stop loss slightly below 134.98.In case there’s a clear breach above 157.77 with a big green candle, wait for a correction to it before you continue long with Gazprom.

Trade signal

Remain long.

                 Platinum weekly

Technical observation

Platinum went down below a key supportive level 885.02, it then rallied down for several weeks but it is currently pulling back to the just broken line. I expect a rejection of it at or around 885.02 for possible bearish momentum towards 753.96 and a possible breakout below it too for a further decline in price towards 599.40.Wait for the correction to 885.02 then short Platinum after a rejection at it with your take profit at 753.96 and stop loss around 929.39.In case of a breach below 753.96, wait for a correction to it before you continue short with Platinum. Right now you wait for the correction to 885.02.

Trade signal

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