Buy #WTI within the zone 74.41-71.50 | 10 February 2023

 #Gold weekly

Technical observation

Last week the commodity on the chart above declined with a big red candle and this week I expect either a continuation of this bearish movement or a rise to the upper side. In case of a rally to the lower side, I expect a rejection within the supportive zone 1673.28-1643.25 to pick bullish positions with my take profit at 2034.43 and stop-loss at 1547.49, on the other hand if there is a rise to the level 2034.43 I recommend that you wait for either a rejection at it followed by a pullback to the zone indicated above to buy #Gold or, a clear break above it with a big green candle to continue long with this commodity.

Trade recommendation

Remain neutral.

#NIKKEI weekly

Technical observation

#NIKKEI bounced within the supportive zone 25458-25126 and since then it has been trading with an increasing bullish bias, this week i anticipate a further rally to the upper side and in case you are currently holding bullish positions, I recommend that you remain in the trade with your take profit at 30293 and stop-loss at 23167. Should there be a clear break above the level 23167,I expect the value of this index to ascend further after a correction and a bounce at the broken line, on the other hand, in case of a break below the zone 25458-25126, I anticipate a possible surge to the lower side towards the supportive level 18999.

Trade recommendation

Remain long with your take profit at 30293.

#WTI weekly

Technical observation

#WTI is trading with an increasing bearish bias slightly above the supportive zone 74.41-71.50, this downwards movement is a correction to the zone indicated above and I expect a rejection within it followed by a possible surge to the upper side. My advice, remain neutral temporarily and wait for a bounce within the zone 74.41-71.50 to pick bullish positions with your take profit at 120.09 and stop-loss at 56.95. If there is a clear break above the level 120.09, I expect the value of this commodity to rise further towards the upper resistance level 1477.08 or higher. On the chart above I can only recommend short positions below the zone 74.41-71.50.

Trade recommendation

Buy #WTI within the zone 74.41-71.50 with your take profit at 120.09.