Remain short with #AIG | 01 February 2019

 

#GazpromNef, weekly

Remain short with #AIG

Technical observation

After breaking above a zone 344.91-339.89, the commodity on the weekly chart above established a key supportive zone with two retracements and is currently pulling back to it.My expectation is a rejection of it within the zone for possible bullish momentum towards the key resistance level marked at 403.96, you can remain flat temporarily and wait for the bounce within 344.91-339.89 to buy #GazpromNef with your take profit at 403.96 and stop loss at 316.04. Should there be a clear penetration below 344.91-339.89 with a big red candle then bearish momentum will be anticipated towards the key supportive level 285.05.

Trade recommendation

Wait for a rejection within 344.91-339.89 to buy #GazpromNef.

#QIWI, weekly

Remain short with #AIG

Technical observation

#QIWI is rallying on an increasing bullish momentum towards a resistance zone 20.52-19.96, I expect a rise to the zone followed by a loss of this bullish momentum within it to pick short positions towards 10.69.In case there’s no rise to the above mentioned zone but a decline to 10.69 followed by a breach below it, wait for a correction to it confirming possible further bearish rally of #QIWI before you continue short. Right now you can remain neutral and wait for the rise to 20.52-19.96 and a bounce within it to sell #QIWI, or a decline to 10.69 and a breakout below it to sell. Long positions may only be recommended above 20.52-19.96.

Trade recommendation

Remain neutral.

#AIG,weekly

Remain short with #AIG

Technical observation

For the past few weeks, this commodity has been rising steadily towards a resistance 44.13, it did not penetrate above the key level and was rejected before rallying down. Last week AID shares went down and I still expect more bearish momentum towards the key level 34.44, in case you sold this commodity at the resistance level 44.13, you can hold on to that position with your take profit at 34.44 and stop loss at 47.24, but if you had not sold it yet, you can still sell it now with your take profit still at 34.44.Should there be a clear penetration above 44.13 followed by a correction to it then bullish momentum will be anticipated towards 56.79.

Trade recommendation

Remain short towards 34.44.

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Imelda Maseno
Analyst of «FreshForex» company
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