Weekly Review | 13 December 2019

XAUUSD 

Weekly Review

Technical Observation

XAUUSD is in an active downtrend. According to the hourly chart attached, We;re expecting a possible break below the 76.4% fib level towards the daily low 1450.13. On this chart, the main levels to look for include 1450.13, 1458.14, 1463.10, 1467.11 and 1471.12. And in case the price rallies and closes below 1450.13, then I will be expecting further momentum even lower.  This  bearish price rally is supported by the fact that the MACD Columns are below the 0.00 and while the price is below 0.0, I expect further momentum even lower.

Trade Recommendations:

Sell a break below 1458.14.

Gas

Weekly Review

Technical Observation

Earlier today, Gas gaped below the daily low 2.261 and is still very mush bearish, according to the MACD Indicator, We're expect further surge to the lowerside. Now that the price is below 2.261, I expect a  steep rally towards -127.2% fib level, On this chart, these are the levels to look for 2.134, 2.261, 2.371 and 2.439. Anytime the price approaches any of these lines then we're going to be expecting a trade Conservative traders should wait for a pullback towards 2.261 to pick a long term sell order.

Trade Recommendations:

Sell Gas from 2.261 towards 2.134.

Brent Oil 

Weekly Review

Technical Observation

According to the  MACD indicator attached, We're in an active up trend. And while the Columns of MACD are above the 0.0 and the signal handle below the Columns, I expect further momentum even higher And should break above the daily high 64.45. On this chart, We;re waiting for a possible 50.0% fib retracement, But first the price needs to break below the following levels 63.42, 62.78,  and 62.27. Alternately, should the price rally to the upper side, then a break above 64.45 will give us a good place to consider a long term buy.

Trade Recommendations:

Wait for a possible 50.% fib retracement to pick a low risk buy

Imelda Maseno
Analyst of «FreshForex» company
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