#IBM weekly
Technical observation
Last week the pair on the chart above corrected itself to the upper side and closed within a resistance zone 140.20-137.91, this week I expect possible bearish momentum towards the key level 109.90 and a possible break below it. You can sell this commodity within the above mentioned zone with your take profit at 109.90 and stop loss at 149.15, if this take profit is hit and there’s a clear breach below it with a big red candle, wait for a confirmation of further bearish movements of this company’s shares before you continue short. Long positions may only be recommended above the zone 140.20-137.91 towards 172.70.
Trade recommendation
Sell #IBM within 140.20-137.91 with your take profit at 109.90 and stop loss at 149.15.
#DAX30 weekly
Technical observation
Following its rejection within the supportive zone 11834.0-11683.0, this commodity has been rising steadily towards a level 13443.1, last week’s candle closed bullish and I still expect more of this upwards movement this week. If you bought this commodity within the zone 11834.0-11683.0 after a rejection, hold on to that position with your take profit at 13443.1 and stop loss at 11270.1, if you are not in a trade yet, wait for either another correction to 11834.0-11683.0 and a bounce within it to buy #DAX30, or a clear penetration above 13443.1 followed by a correction and a rejection at it to pick long positions.
Trade recommendation
Remain long with your take profit at 13443.1.
#Brent weekly
Technical observation
On the weekly chart above Brent is trading on an increasing bullish momentum towards a resistance zone 70.24-68.56 and I expect a loss of this movement within it for a possible surge to the lower side to the level 53.04. My advice, remain neutral and wait for a correction to the zone 70.24-68.56 and a rejection within it to sell Brent with your take profit at 53.04 and stop loss at 76.65. In case there’s no rejection within 70.24-68.56 but a clear penetration above it with a big green candle, wait for a retracement to the just broken zone and a bounce within it confirming possible bullish movements before you buy Brent.
Trade recommendation
Remain flat.
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