#XAUUSD weekly
Technical observation
Last week #Gold broke below the zone 1698.09-1675.24 and it closed bearish below this zone and this week I expect either a continuation of this bearish movement or a correction to the broken zone. However, I would recommend that you wait for a second retracement to the just broken zone before you pick short positions with your take profit at 1372.29 and stop-loss at 1802.91. If the commodity above is not sustained below the zone 1698.09-1675.24 but clearly breaks above it with a big green candle, wait for a correction and a rejection within the same zone before you re-buy #Gold towards the resistance level 2037.38.
Trade recommendation
Remain neutral.
#Brent weekly
Technical observation
#Brent retraced to the supportive zone it established at 86.78-84.85 and it not break below it but instead closed bearish within it. This week I expect possible bullish movements towards the resistance level 126.20 and I would recommend that you pick long positions now within the zone mentioned above with your take profit at 126.20 and stop-loss at 68.99. If there is a clear break above the level 126.2, I expect the value of the commodity above to rally further to the upper side after a correction to the broken line; on the other hand, in case of a break below the zone 86.78-84.85, I expect the value of #Brent to plummet towards 46.50.
Trade recommendation
Buy #Brent now within 86.78-84.85 with your take profit at 126.20.
#NIKKEI weekly
Technical observation
The value of the commodity on the chart above is trading with an increasing bullish bias and this week I expect a continuation of this bearish movement to the supportive zone 25458-25126. I would recommend that you remain neutral and wait for a pullback to the zone indicated above then buy a bounce within it with your take profit at 30293 and stop-loss at 23108. In case of a clear break above the level 30293 with a big green candle, I expect the value of #NIKKEI to surge further to the upper side after a correction to the broken line. I can only recommend short positions below the supportive zone 25458-25126.
Trade recommendation
Remain neutral.
