we are short with #HSI | 29 September 2023

 #Gas weekly

we are short with #HSI

Technical observation

On the weekly chart above, the value of Gas declined towards the supportive level 1.570 then bounced slightly above it, since then it has been trading with an increasing bullish bias and this week I expect a  further momentum to the upper side. My advice, remain neutral and wait for a pullback to the resistance zone 5.076-4.915 then sell this commodity within it with your take profit at 1.570 and stop-loss at 6.230. If there is a penetration below the level 1.570, continue short after a correction and a bounce at the broken line, contrary pick bullish positions towards the level 9.538 in case of a clear break above the zone 5.076-4.915.

Trade recommendation

 

Wait for a pullback to the zone 5.076-4.915 to buy #Gas.

#CAC40 weekly

we are short with #HSI

Technical observation

#CAC40 rose to the resistance level 7594.9 then bounced at it and since then it has been trading with an increasing bearish bias, this downwards movement is a correction to the supportive zone 5768.4-5682.1 and I expect a possible rejection within it. My advice, remain neutral and wait for a correction to the zone mentioned above to re-buy this index with your take profit at 7594.9 and stop-loss at 5189.1. If there is a penetration above the level 7594.9, I expect the value of #CAC40 to ascend further after a correction to the broken line. As it is on the chart above, I can only recommend bearish positions below the zone 5768.4-5682.

Trade recommendation

Remain neutral.

#HSI weekly

we are short with #HSI

 

Technical observation

On the chart above #HSI has been trading with an increasing bearish bias since it bounced within the resistance zone 22713-22263 and in case you picked short positions within the zone I mentioned earlier, I recommend that you remain in the trade with your take profit at 14752 and stop-loss at 25243. If there is a clear penetration below the level 14752, wait for a correction to the broken line before you continue short with this index, on the other hand, should there be a clear breakout above the zone 22713-22263, I anticipate possible bullish movements towards the resistance level 31096 or even higher.

Trade recommendation

Remain short with your take profit at 14752.

Imelda Maseno
Analyst of «FreshForex» company
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