Remain flat with Brent | 31 Tháng bảy 2020

 #WTI weekly

Technical observation

The commodity on the weekly chart above penetrated above a resistance zone 40.71-39.50 last week and this week I still expect further bullish movements of #WTI for a clear breakout above the zone mentioned 40.71-39.50. After a clear breakout above the zone 40.71-39.50, wait for a correction to the just broken zone and a rejection within it to confirm bullish price movements before you buy #WTI with your take profit at 60.90 and stop loss at 32.21. On the chart above as long as #WTI is contained above 40.71-39.50, we can only expect bullish movements of this commodity.

Trade recommendation

Remain flat.

#HSI weekly

Technical observation

Last week, the value of the commodity on the chart above pulled back to a supportive zone it established around 25376-25113 but did not bounce within it as I had predicted; instead, it penetrated below the zone and closed below it with a red candle. This week, I expect this commodity to rally upwards to the just broken zone followed by a bounce within it for bearish movements towards the key level 21574. However, In case #HSI is not contained below the zone 2537-25113 but instead breaks above it then the break below the zone was false and we can expect bullish rally towards 28799.

Trade recommendation

Remain flat.

#Brent weekly

Technical observation

Last week, #Brent closed bullish within the resistance zone 44.50-43.27, with this commodity having been contained below the zone mentioned above, and as long as it is contained below this zone, we can only anticipate bearish rally of #Brent towards the supportive level 24.97. Right now within the zone 44.50-43.24.97 27 is the ideal place to sell # Brent with your take profit at 24.97 and stop loss at 44.66.  In case there is clear breakout above the zone 44.50-43.27 with a big green candle, wait for a correction to the just broken zone a bounce to confirm possible upwards movement before you buy #Brent.

Trade recommendation

Remain flat.