#HSI weekly
Technical observation
#HSI bounced within the resistance zone 22619-22240 and since then it has been trading with an increasing bearish bias, this week I anticipate a further rally to the lower side and if you are already holding bearish positions, I recommend that you remain in the trade with your take profit at 14749 and stop-loss at 24231, should there be a clear breach below the level 14749 with a big red candle, I anticipate the value of # HIS to plummet further to the lower side. As it is in the chart above, as long as the value of index #HSI is sustained below the zone 22619-22240, only short position is ideal and can be recommended.
Trade recommendation
Remain short with your take profit at 14749.
#ASX weekly
Technical observation
The value of #ASX is trading with an increasing bearish bias slightly above the supportive zone 6403.0-6340.9 and this week I expect a continuation of this downwards movement to the zone indicated above followed by either a rejection within it or a clear penetration below it with a big red candle, In case of a bounce within the zone I mentioned earlier, re-buy #ASX within it with your take profit still at 7652.4 and stop-loss at 5943.1. On the other hand if there is a clear penetration below the zone 6403.0-6340.9, wait for a retracement and a bounce within this zone before you short #ASX towards the key levels 4513.5 or lower.
Trade recommendation
Wait for a pullback to the zone 6403.0-6340.9 to re-buy #ASX.
#DAX30 weekly
Technical observation
On the chart above, the value of #DAX30 is trading with an increasing bearish bias for several weeks now and this week I expect a further surge to the lower side. The anticipated momentum to the lower side is a pullback to the supportive zone 12041.0-11811.4 and I expect a decline to this zone followed by either a bounce within it or a clear break below it with a big red candle. My advice, remain flat and wait for a pullback to the zone indicated above then buy a bounce within it with your take profit at 16497.6 and stop-loss at 10837.4. If there is a clear break above the level 16497.6, I expect the value of this pair to ascend further after a retracement to the broken line.
Trade recommendation
Remain flat.
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