Expecting #NQ100 to rally towards 15313.5. | 20 January 2023

 #CAC40 weekly

Expecting #NQ100 to rally towards 15313.5.

Technical observation

On the chart above, #CAC40 bounced within the supportive zone 5768.4-5682.1 and since then it has been trading with an increasing bullish bias. This week I expect a continuation of this upwards movement to the resistance level 7230.6 followed by either a clear break above it with a big green candle, or a rejection at it. In case you are currently holding bullish positions, I recommend that you remain in the trade and pick your profits at the level 7230.6. If this take profit is hit and there is a clear break above it, you can continue long after a pullback and a bounce at the broken line. I can only recommend short positions below the zone 5768.4-5682.1.

Trade recommendation

Remain long with your take profit at 7230.6.

#DJI30 weekly

Expecting #NQ100 to rally towards 15313.5.

Technical observation

#DJI30 is trading with an increasing bullish bias slightly below the resistance level 36396 and my expectation is a further rise to the same level followed by either a clear penetration above it or a rejection at it. In case of a break above the level 36396, I expect the value of #DJI30 to ascend further after a correction and a rejection at the broken line; on the other hand, if there is a break at the same level, I expect a pullback to the supportive zone 29130-28734, where I look to re-buy towards the level 36396. On the weekly chart above, as long as DJI30 is sustained above the zone 29130-28734, I can only recommend bullish positions.

Trade recommendation

Remain neutral.

#NQ100 weekly

Expecting #NQ100 to rally towards 15313.5.

Technical observation

The value of the Index on the chart above previously bounced within the supportive zone 10689.3-10455.3 and last week it rose with a big green candle, as long as this index is sustained above the zone I mentioned above I expect a continuation of this upwards movement and in case you are currently holding bullish positions, I recommend that you remain in the trade with your take profit at 15313.5 and stop-loss at 9100.7. In case of a break above the level 15313.5, I expect further bullish movements towards 16752.1; on the other hand, if there is a break below the zone 10689.3-10455.3, I expect bearish movements towards the level 6837.1.

Trade recommendation

Remain long with your take profit at 15313.5.

Imelda Maseno
Analyst of «FreshForex» company
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