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Short Brent within 80.61-78.85

Short Brent within 80.61-78.85 | 10 August 2018

Brent weekly

Short Brent within 80.61-78.85

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

Short Brent within 80.61-78.85

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

Short Brent within 80.61-78.85

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

Wait for a correction to 885.02 to short platinum with your take profit at 753.96 and stop loss around 929.39.

Do you know against which currencies CFD is the most profitable?

Short Brent within 80.61-78.85

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Imelda Maseno
Analyst of «FreshForex» company
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