#Gas weekly
Technical observation
The commodity on the weekly chart above did not decline towards the supportive line 2.084 as I had predicted last week, instead it rose and penetrated above a resistance zone 2.875-2.813 with a big green candle. This week I still expect further bullish movements of the value of this commodity followed by a pullback to the just broken zone and a bounce to pick long position. However, this commodity could still break below the above-mentioned zone if the previous break above it was false. My advice, wait for a correction to the zone 1.875-1.815 and a bounce within it to buy #Gas with your take profit at 3.727.
Trade recommendation
Wait for a correction to 2.875-2.813 to pick long positions towards 3.727.
#ASX weekly
Technical observation
The value of the commodity on the weekly chart above is trading with an increasing bullish momentum below a resistance zone 6148.7-6095.1. I expect this upwards movement to continue to the above-mentioned zone followed by a loss of it to pick short positions with my take profit at 5581.9 and stop loss at 6431.8. Should there be a clear break below the line 5581.9 with a big red candle; the value of this commodity could surge further to the lower side towards the lower supportive line 4836.2. As it is on the chart above, you can anticipate bullish movements in case of a clear break above 6148.7-6095.1.
Trade recommendation
Wait for a correction to 6148.7-6095.1 to sell #ASX.
#SP500 weekly
Technical observation
The general trend for the value of the commodity on the chart above is upwards. Currently it is trading above a supportive zone 3227.4-3189.7 with an increasing bearish momentum. I expect a loss of this bearish momentum within the supportive zone mentioned above for bullish movements towards the key line 3590.0. My advice, wait for a correction to the zone 3227.4-3189.7 and a rejection within it to buy #SP500 with your take profit at 3590.0 and stop loss at 3002.0. On the chart above, as long as #SP500 is contained above 3227.4-3189.7 you can only expect a momentum to the upper side.
Trade recommendation
Buy a bounce within the zone 3227.4-3189.7 with your take profit at 3590.0.
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