Sell #HSI within 22697-22347 | 17 June 2022

 #HSI weekly

Technical observation

The value of the commodity on the weekly chart above has been trading with an increasing bullish bias for the past five consecutive weeks and this week, I expect a continuation of this upwards movement to the resistance zone 22697-22347 followed by a rejection within it to pick long positions with my take profit at 17430 and stop-loss at 24940. As long the value of #HSI is sustained below the zone mentioned above I expect it to descend towards level 17430 or even lower to the supportive level 10676, however, should there be a clear breakout above the same zone with a big green candle, I expect a possible rally towards the resistance level 30243.

Trade recommendation

Pick short positions within 22697-22347 with your take profit at 17430.

#FTSE100 weekly

Technical observation

#FTSE100 declined with a big red candle last week and this week, I expect a continuation of this bearish movement towards the supportive zone 6951.1-6897.0. The anticipated bearish movement is a correction to the zone I have indicated above and I expect a bounce within it to pick long positions with my take profit at 7693.7 and stop-loss at 6600.6. Should there be a clear penetration above the level 7693.7, I expect a further surge to the upper side, on the other hand, in case of a break below the zone 6951.1-6897.0; I expect the value of the commodity above to plummet towards the supportive level 5531.3.

Trade recommendation

Wait for a correction to the zone 6951.1-6897.0 to buy #FTSE100.

#DJI30 weekly

Technical observation

Last week the value of the commodity on the chart above declined with a big red candle but could not break below the supportive zone 31540-31144 and as long as it is sustained above this zone, this week I expect a possible surge to the upper side. My advice, pick long positions within the zone I have mentioned above with your take profit at 36504 and stop- loss at 28662. Should there be a clear break below the zone indicated above, I expect a possible surge towards the supportive level 22403 or even lower to the key level 15404. Further bullish movements can be expected in case of a clear break above the key level 36504.

 Trade recommendation

Pick long positions within 31540-31144.