Sell #SP500 within 2601.6-2575.9 | 10 April 2020

 #Gazprom weekly

Sell #SP500 within 2601.6-2575.9

Technical observation

The commodity on the weekly chart above is trading with an increasing bullish momentum above a supportive zone 171.09-168.30 and I expect this upward movement to continue to the resistance zone 215.65-212.04 followed by a  possible breakout above it. If you bought this commodity within the supportive zone 171.09-168.30, remain long with your take profit at 212.04 and stop loss at 154.37. Should there be a clear penetration above the zone 215.65-212.04, wait for a retracement to it and a rejection to confirm possible further bullish price movements before you continue long with this commodity.

Trade recommendation

Remain long with your take profit at 212.04.

#NIKKEI weekly

Sell #SP500 within 2601.6-2575.9

Technical observation

#NIKKEI is retracing to a resistance zone 20304-20136 and i expect a rejection of this upward movement within the zone for possible bearish rally. My advice wait for a correction to the zone and a rebound within it to pick short positions with your take profit at 17136 and stop loss at 21290. Should there be a penetration below the supportive zone 17136-16932, further bearish movements can be expected towards the lower supportive level 13874. As long as the commodity on the weekly chart above is contained below the resistance zone 20304-20136, only short positions look ideal and can be recommended.

Trade recommendation

Wait for a retracement to sell #NIKKEI.

#SP500 weekly

Sell #SP500 within 2601.6-2575.9

Technical observation

The value of the commodity on the weekly chart above went down below a supportive zone 2601.6-2575.9 with a big red candle and is currently trading below it with an increasing bullish bias. I expect a rejection of this bullish rally within the above-mentioned zone for bearish price movements towards the key level 2186.1 or even lower to the supportive level 1857.7. My advice, sell this commodity within the zone 2601.6-2575.9 with your take profit at 2186.1 and stop loss at 2720.3. Continue short with this commodity towards the level 1857.7 after a penetration below the line 2186.1 and a correction to it.

Trade recommendation

Sell #SP500 within 2601.6-2575.9 with your take profit at 2186.1.

Imelda Maseno
Analyst of «FreshForex» company
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