#NIKKEI weekly
Technical observation
#NIKKEI is trading with an increasing bullish bias above the supportive zone it established at 25458-25126 and as long as it is sustained above this zone I expect a further rally to the upper side. If you picked bullish positions within the zone indicated above after a bounce, remain in the trade with your take profit at 30293 and stop-loss at 23138. In case of a clear break above the level 30293 with a big red candle, wait for a correction and a rejection at before you continue long, on the other hand, if there is a clear break below the zone I have mentioned above, wait for a correction and a rejection within it before you pick short positions towards 19807.
Trade recommendation
Remain long with your take profit at 30293.
#HSI weekly
Technical observation
The value of #HSI has been plummeting for the past three consecutive weeks and this week it could descend further, however, despite this movement to the lower side, I anticipate a pullback to the resistance level 17385 followed by a rejection at it to pick short positions with my take profit at 11921 and stop-loss at 19290. In case of a clear break below the level 11921 with a big red candle, I expect the value of this company’s shares to surge further to the lower side after a pullback to the broken line. As it is on the chart above I can only recommend bullish positions in case of a clear break above the zone 22455-22169.
Trade recommendation
Wait for a correction to the level 17385 to sell #HSI.
#CAC40 weekly
Technical observation
On the weekly chart above, #CAC40 retraced to the supportive zone it established at 5767.7-5686.3 but did not break below it, instead it bounced within the zone and since the it has been trading with an increasing bullish bias. This week I expect a continuation of this upwards movement and in case you are holding bullish positions with this index, I recommend that you remain in the trade with your take profit at 7218.7 and stop-loss at 5177.7. In case of a clear break above the level 7218.7 with a big green candle, I expect the value of #CAC40 to plummet further the upper side after a correction to the broken line.
Trade recommendation
Remain long with your take profit at 7218.7.
