#Brent weekly
Technical observation
On the weekly chart above price closed while on an increasing bearish momentum below a key resistance zone 72.91-71.66, I still expect more of this downwards movement towards the supportive level 57.60 followed by possible penetration below it. If you sold this commodity within the zone 72.91-71.66 after a rejection, hold on to that position with your take profit at 57.80 and stop loss at 77.84. As long as this commodity is contained below the resistance zone mentioned above only short positions may be recommended ,long positions may only be advisable in case of a clear breakout above the zone.
Trade recommendation
Remain short with your take profit at 57.80
#WTI weekly
Technical observation
Two weeks ago, the commodity on the weekly chart above bounced at a key resistance level 64.00 before moving on an increasing bearish momentum, currently the commodity is contained between the level and a supportive zone 52.94-51.91, I expect the bearish movements to continue towards the zone 52.94-51.91 followed by a possible penetration below it. If you sold this commodity at the level 64.00 after a rejection, hold on to that position with your take profit at 51.91 and stop loss at 67.53.Bullish movements can only be expected above the line 64.00 towards the resistance level 74.39.
Trade recommendation
Remain short with your take profit at 51.91.
#HSI weekly
Technical observation
For the past several weeks, the commodity on the weekly chart above has been trading on an increasing bearish momentum towards a resistance zone 29097-28788. Last week, price closed within the zone and I expect either clear breach above it or a bounce within it. In case of a clear penetration above the zone with a big green candle, wait for a correction to the just broken zone before you pick long positions with your take profit at 33291 and should there be bounce within the zone29097-28788, pick short positions within it with your take profit at 24871 and stop loss at 30306.
Trade recommendation
Remain neutral temporarily.
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