Wait for a correction to buy FedEx. | 12 April 2019

Gazprom,weekly

Technical observation

The commodity on the weekly chart above was rejected within a supportive zone 150.60-149.14, it then rose steadily towards a key line 173.37 and  i still expect more of this movement to the line this week and the following week, should there be a clear breach above 173.37, more bullish momentum of Gazprom can be anticipated. As long as this commodity is contained above the supportive zone 150.60-149.14, only long positions look ideal and may be recommended, short positions may only be advisable in case of a clear breakout below 150.60-149.14 with a big red candle followed by a correction to it and a rejection within it.

Trade recommendation

Remain long with your take profit at 173.37 and stop loss at 143.31.

FedEx, weekly

Technical observation

The value of the commodity on the chart above went above a resistance zone 183.59-180.02 with  a big green candle, we expect a pullback to the just broken zone followed by a rejection and a bounce within it for possible upwards movement towards the line 227.00 or even higher to 266.84, I would advise you wait for a retracement to the just broken zone and a rejection within it  to pick long positions with your take profit at 227.00 and stop loss at 167.24.In case of a penetration above 227.00 continue long with this commodity toward the level 266.84 after a correction to the just broken line and a bounce at it.

Trade recommendation

Wait for a correction to 183.59-180.02 to buy FedEx.

#IBM,weekly

Technical observation

The value of the commodity on the weekly chart above rose above a resistance zone 141.74-139.42 and is still rallying above it. I expect a pullback to the just broken zone followed by  a rejection within it for possible bullish movements towards the key level 172.81 and a possible break above the line for a further rise towards the highest key line 200.17, my advice, wait for a correction to  141.74-139.42 a rejection within it to buy #IBM with your take profit at 172.81  and stop loss at 132.12, continue long with this commodity in case of breach above 172.81 with a big green candle followed by a correction to and a rejection at it.

Trade recommendation

Wait for a correction to 141.74-139.42 to buy #IBM.