Remain neutral with #NIKKEI. | 15 September 2023

#SP500 weekly

 Remain neutral with #NIKKEI.

Technical observation

#SP500 bounced within the supportive zone 3587.1-3523.7 and since then it has been trading with an increasing bullish bias, this week I expect a further surge to the upper side and if you are already holding bullish positions, I recommend that you remain in the trade with your take profit at 4785.2 and stop-loss at 3202.9. In case of a clear break above the level 4785.2 with a big green candle, I expect # SP500 to ascend further upwards, however, in case of a breach below the zone 3587.1-3523.7 I anticipate the value of #SP500 to plunge towards the supportive levels 2292.1 and 1274.1 or lower.

Trade recommendation

 

Remain bullish with your take profit at 4785.2.

#HSI weekly

Remain neutral with #NIKKEI.

Technical observation

#HSI has been trading with an increasing bearish bias since it bounced within the resistance zone 22713-22263 and this week I expect it to plunge even further. In case you picked short positions within the zone indicated above, I recommend that you remain bearish with your take profit at 14752 and stop-loss at 24927. If there is a clear break below the level 14752, wait for a correction to the broken line before you continue short towards 10244.But should there be a clear break above the level 22713-22263 with a big green candle, I recommend that you remain flat and wait for a pullback to the same zone before you long #HSI towards 31096.

Trade recommendation

Remain short with your take profit at 14752.

#NIKKEI weekly

Remain neutral with #NIKKEI.

Technical observation

The commodity on the chart above rose to the level 33850 but did not break above it, instead it bounced at this level and since then it has been trading with an increasing bearish bias, this downwards movement is a correction to the supportive zone 25436-25126 and I expect either a rejection within this zone or a clear break below it with a big red candle. In case of a bounce within the zone indicated above, buy this index within the same zone with your take profit at 33850 and stop-loss at 22611, however, if there is a clear penetration below the zone I mentioned earlier, wait for a retracement to this zone before you pick short positions towards 15127.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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