Remain long with #NQ100 | 31 March 2023

#HSI weekly

Remain long with #NQ100

Technical observation

#HSI has been trading with an increasing bearish bias for several weeks and this week I anticipate a further momentum to the lower side. If you sold this index within the resistance zone 22713-22263, I recommend you remain in the trade with your take profit at 14752 and stop-loss at 25328. My expectation is a further surge to the lower side in case of a penetration below the level 14752, however, if #HSI is not sustained below the zone 22713-22263 but clearly breaks above it with a big green candle, I anticipate bullish movements towards the resistance level 30210 after a correction to the broken zone and a bounce within it.

Trade recommendation

Remain short with your take profit at 14752.

#NQ100 weekly

Remain long with #NQ100

Technical observation

#NQ100 retraced to the supportive zone 10455.3-10689.3 but did not break below it, instead it bounced within the same zone and since then it has been trading with an increasing bullish bias. This week I expect a further surge to the upper side and in case you are already holding bullish positions, I recommend that you remain in the trade with your take profit at 16752.1 and stop-loss at 9033.2. If there is a clear break above the level 16752.1, I expect the value of this index to rally further to the upper side. On the weekly chart above, I can only recommend bearish positions in case of a break below the zone 10455.3-10689.3.

Trade recommendation

Remain long with your take profit at 16752.1.

#Brent weekly

Remain long with #NQ100

Technical observation

On the chart above, the value of #Brent bounced within the resistance zone 89.08-86.78 and since then it has been trading with an increasing bearish bias. If you picked short positions within the zone I have indicated above, I recommend you remain in the trade with your take profit at 46.07 and stop-loss at 101.35, in case of a clear penetration below the level 46.07 with a big red candle, wait for a correction to the broken line and a bounced at it before you continue short with this commodity towards the supportive level 19.15. On the chart above, I can only recommend bullish positions above the zone 89.08-86.78.

Trade recommendation

Remain short with your take profit at 46.07.

Imelda Maseno
Analyst of «FreshForex» company
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