We are long with #WTI | 14 July 2023

#WTI weekly

Technical observation

#WTI pulled back to the zone it established at 66.33-64.20 then bounced within it and last week it rose with a big green a candle, this week, as long as the value of this commodity is sustained above the zone I have mentioned above, I expect it to ascend even further. If you picked bullish positions within the zone i have indicated above, I recommend that you remain in the trade with your take profit at 126.36 and stop-loss at 51.13. In case of a clear penetration above the level 126.36, wait for a pullback to it before you continue long, however if there is a clear break below the zone 66.33-64.20, short #WTI towards the level 18.67.

Trade recommendation

Remain long with your take profit at 126.36.

#CAC40 weekly

Technical observation

#CAC40 rose to the level 7587.1 but did not break above it, instead it bounced at the same line and since then it has been trading with an increasing bearish bias, this downwards movement is a correction to the supportive zone 5782.7-5669.0 and I expect either a bounce within it or a clear break below it with a big red candle. Right now as it is on the chart above, remaining neutral is ideal than picking any positions; If there is a bounce within the zone I mentioned earlier, pick bullish positions within it with your take profit at 7587.1 and stop-loss at 5196.9. On the flip side, if there is a penetration below the same zone, pick short positions towards 3951.5.

Trade recommendation

Remain neutral.

#DJI30 weekly

Technical observation

 On the chart above, #DJ130 has been rallying steadily to the upper side for several weeks now and this week I expect a further momentum to the upper side. If you are holding bullish positions with this index, I recommend that you remain in the trade with your take profit at 36864. In case this take profit is hit and there is a clear break above it with a big green candle, wait for a pullback and a bounce at it before you continue long, on the other hand, in case of a bounce at the level 36864, wait for another correction to the supportive zone 29094-28626 to re-buy #DJI30. As it is on the chart above I can only recommend short positions in case of a clear break below the zone 29094-28626.

Trade recommendation

Remain long with your take profit at 36864.