Remain long with Dow Jones | 11 February 2022

#NIKKEI weekly

Technical observation

 The value of the shares of the company on the chart above declined and broke below the supportive zone 27470-26205 with a big red candle. Last week it rose slightly to the broken zone and it could not break above it, as long as it is sustained below this zone I expect a rally to the lower side. You can pick short positions within the zone today or if you are a bit skeptic to sell #NIKKEI now, wait for a second retracement to the same zone then place a sell order with your take profit at 24041 and stop loss at 28766. On your way downwards the key levels to look for include, 24041, 19778 and the lower supportive level 15447.

 Trade recommendation

Remain neutral temporarily.

#ASX weekly

Technical observation

Last week, #ASX retraced to the resistance zone 7117.8-7049.5 with a big green candle and it was sustained below it. This week I expect a surge to the lower supportive zone 5762.8-5694.5 and I would advise that you pick short positions within the zone 7117.8-7049.5 with your take profit at 5762.8 and stop loss at 7403.8. At the supportive zone 5762.8-5694.5, I expect either a clear breakout below it with a big red candle or a bounce at it followed by another correction to the resistance zone mentioned above. In case of a break below the zone 5762.8-5694.5, I anticipate a further surge in the value of this company’s shares towards the level 4501.0.

 Trade recommendation

 Pick short positions within the zone 7117.8-7049.5 with your take profit at 5762.8.

#DJ130 weekly

Technical observation

 #DJI30 is trading within an increasing bullish momentum within an expanding wave as indicated on the weekly chart above. A few weeks ago it retraced to the lower level of the wave and it could not break below it, since it bounced at this level the value of this commodity has been trading with an increasing bullish bias for two consecutive weeks now and this week I expect a continuation of this upwards movement. If you picked long positions at 34166 after a bounce, remain long with your take profit at 37013 and stop loss at 32079. Should there be a clear breakout above the level 37013 with a big green candle I expect a further surge to the upper side.

Trade recommendation

Remain long with your take profit at 37013.