Wait for a correction to sell #ASX | 27 March 2020

 #Gazprom weekly

Technical observation

For the past two weeks, the commodity on the weekly chart above has been trading on an increasing bullish momentum around a supportive zone 171.09-168.30. With the value of this commodity around the zone mentioned above, a possible penetration below it can be anticipated. Should there be a clear below the zone with a big red candle, wait for a correction to it and a bounce before you sell this commodity with your take profit at 132.69 and stop loss at 184.09. In case of a rise to the zone 215.65-212.04, wait for a rejection within it to sell #Gazprom with your take profit at 171.09 and stop loss at 227.75.

Trade recommendation

Remain neutral.

#ASX weekly

Technical observation

#ASX has been declining significantly towards a supportive level 4673.7 and last week’s candle closed just above it. This week I expect either a correction to the resistance zone 5637.9-5598.0 followed by a bounce within it. In case of a correction to the zone 5637.9-5598.0, pick short position within it with your take profit at 4673.7 and stop loss at 5839.7. However, should there be no correction to the above mentioned zone but a clear penetration below the line 4673.7 with a  big red candle, wait for pullback to the just broken line and  a rejection at it to confirm possible further bearish rally before you sell #ASX.

Trade recommendation

Wait for a correction to sell #ASX.

#NIKKEI weekly

Technical observation

Since it penetrated below a supportive zone 20304-20136, the commodity on the weekly chart above has been rallying with an increasing bearish momentum and even breaking below a key level 17232. My expectation is a correction to the just broken line followed by a bounce at it for possible bearish movements towards the key level 14853. My advice, wait for a correction to the line 17232 followed by a bounce at it to sell #NIKKEI with your take profit at 14853 and stop loss at 17920. On the chart above the key levels to look for include 17232, 14853 and 12203. Only short positions can be recommended on the chart above.

Trade recommendation

Wait for a correction to sell.