#IBM weekly
Technical observation
The value of the commodity on the weekly chart above rose above a resistance zone 140.2-137.91, it rallied for some time above the zone but could not be contained and penetrated below it. Right now this commodity is correcting to the same zone and I expect a rejection of it within the above mentioned zone for possible bearish momentum towards the key line 109.90 and a possible penetration below it for a further decline. My advice, wait for the correction to 140.2-137.91 and a rejection within it to sell #IBM with your take profit at 109.90 and stop loss at 147.78, only short positions can be recommended.
Trade recommendation
Sell #IBM within 140.2-137.91.
#DAX30 weekly
Technical observation
#DAX3O went above a resistance zone 11834.0-11683.0 with a big red candle, it then corrected to the just broken zone but could not breach below it and was contained. Last week this commodity rose after the bounce within 11834.0-11683.0 and I still expect more of this bullish rally towards the key level 13443.1. In case you went long within the zone 11834.0-11683.0 after a rejection, hold on to that position with your take profit at 13443.1 and stop loss at 11280.2. However, should there be a clear penetration below 11834.0-11683.0 with a big red candle then bearish momentum towards the level 10494.7 can be anticipated.
Trade recommendation
Remain long with your take profit at 13443.1.
# Brent weekly
Technical observation
On the weekly chart above, Brent broke above a zone 70.24-68.56 but was not contained, it then penetrated below the zone and continued downwards for a week before rising. Currently this commodity is below 70.24-68.56 and I expect a correction to it followed by a rejection for bearish momentum towards the key line 53.04. My advice, wait for a correction to 70.24-68.56 and a rejection within it to sell #Brent with your take profit at 53.04 and stop loss at 76.65. If this take profit is hit and there’s a clear breakout below it then more bearish rally of this commodity towards the lowest supportive level 38.14 can be expected.
Trade recommendation
Wait for a correction to 70.24-68.56 to sell #Brent.
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