Wait for a correction to sell #Gazprom. | 13 March 2020

 #Gazprom weekly

Technical observation

On the weekly chart above, price continued to rally downwards with a big red candle this last week. This week however, a correction to the just broken zone can be expected followed by a rejection within it for possible bearish rally. My advice, wait for a retracement to the zone 215.65-212.04 and a bounce within it to sell #Gazprom. On your way downwards the key levels to look for include; 168.30 and 132. 69. As long as price is contained below the zone mentioned above, only short position look ideal and may be advisable. Long positions may only be recommended above 215.65-212.04.

Trade recommendation

Wait for a correction to sell #Gazprom.

#ASX weekly

Technical observation

Since it penetrated below a supportive zone it had established around 6401.7-6358.5, the commodity in the weekly chart above continued to rally downwards last week and is still showing signs of declining even further. Wait for a correction to the zone 6401.7-6358.5 and a rejection within it to sell #ASX with your take profit at 5598.0 and stop loss at 6526.5. Should price reach this take profit, a possible penetration below the zone 5637.9-5598.0 can be expected followed by a pullback to it for further bearish movements towards the lowest supportive level 4811.7 o the weekly chart above.

Trade recommendation

 Wait for a correction to the zone 6401.7-6358.5.

#NIKKEI weekly

Technical observation

Last week the value of the commodity on the weekly chart above dropped significantly penetrating below a supportive zone 20304-20136 and as long as it is contained below this zone, only bearish movements of this commodity can be anticipated, on your way downwards the key levels to look for include; 17232, 14793 and 12203. This week I expect a possible pullback to the just broken zone followed by a rejection within it. My advice, wait for a retracement to the zone 20304-20136 and a bounce within it to sell # Nikkei with your take profit at 17232 and your stop loss at 21216. Right now, remain flat.

Trade recommendation

Remain flat.