Remain short with #Brent | 12 Tháng Năm 2023

 #Gold weekly

Technical observation

The value of the commodity on the chart above has been rising steadily for several weeks now and currently it is trading with an increasing bullish bias slightly below the level 2034.7, I expect either a loss of this upwards at the same level or a clear break above it with a bog green candle and if you are holding bullish positions with #Gold, you can pick your profits now at the level 2034.7, However, if you are flat with this commodity, I recommend you wait for another correction to the supportive zone 1661.65-1643.25 to pick bullish position. On the weekly chart above, I can only recommend short positions below the zone 1661.65-1643.

Trade recommendation

Remain long with your take profit at 2043.7.

#WTI weekly

Technical observation

On the weekly chart above, #WTI is trading with an increasing bearish bias slightly above the supportive zone 66.33-64.20 and I expect a loss of this downwards movement within the same zone followed by a possible surge to the upper side. My advice, remain neutral and wait for a bounce within the zone 66.33-64.20 to pick bullish positions with your take profit at 126.36 and stop-loss at 49.56, if there is a rise above the level 126.36 with a big green candle, I expect the value of #WTI to ascend further after pullback to the broken line, on the other hand, in case of a break below the zone 66.33-64.20, I anticipate a decline towards 9.93.

Trade recommendation

Buy #WTI within the zone 66.33-64.20 with your take profit at 126.36.

#Brent weekly

Technical observation

#Brent bounced within the resistance zone 89.08-86.78 and since then it has been trading with an increasing bearish bias. As long as the value of this commodity is sustained below the zone indicated above, I expect a further surge to the lower side and if you already picked short positions with Brent, I recommend that you remain in the trade with your take profit at the supportive level 46.07 and stop-loss at 103.06. Should there be a clear penetration below the level 46.07 with a big red candle, I expect the value of this commodity to continue further downwards towards the supportive level 19.15 or lower.

Trade recommendation

Remain short with your take profit at 46.07.