Wait for a correction to buy #CAC40 | 07 August 2020

 #WTI weekly

Technical observation

The commodity on the weekly chart above bounced within a resistance zone 39.50-40.71 and last week it traded with an increasing bearish momentum. I expect further bearish movements this week towards the supportive level 18.21 followed by a clear breakout below it for a further surge to the lower side. My advice, if you sold this company’s shares within the zone 39.50-40.71 after a  bounce, remain short with your take profit at 18.21 and stop loss at 48.78. If you are currently flat with this commodity, you can still sell #WTI within the zone 39.50-4-.71. We can only anticipate bullish movements above 39.50-40.71.

Trade recommendation

 Remain short with your take profit at 18.21.

#ESTX50 weekly

Technical observation

 Last week, the value of the commodity on the chart above went down with big red candle and a closed just above a supportive zone 3111.5-3083.9. This week I expect the value of this commodity to decline further to the supportive zone 3111.5-3083.9 followed by a clear bounce within it for bullish momentum toward the key level 3674.0. My advice, remain flat temporarily and wait for a retracement to the supportive zone 3111.5-3083.9 and a clear bounce within it to buy #              ESTEX5O with your take profit at 3674.0 and stop loss at 2925.0. We can only anticipate bearish momentum below the zone 3111.5-3083.9.

Trade recommendation

Remain flat temporarily.

#CAC40 weekly

Technical observation

 On the weekly chart above, #CAC40 is trading with an increasing bearish bias above a supportive zone it established around 4732.0-4672.0. My expectation is a loss of this bearish rally within the above-mentioned zone for possible upwards movements towards 5679.4. My advice, wait for a correction and a bounce within the zone 4732.0-4672.0 to buy this company’s shares with your take profit at 5679.4 and stop loss at 4482.0. On the weekly chart above, as long as price is contained above the supportive zone 4732.0-4672.0 we can only anticipate bullish movements of this commodity.

Trade recommendation

 Wait for a correction to 4732.0-4672.0 to buy #CAC40.