#HSI weekly
Technical observation
#HSI pulled back to the resistance level it established at 17535 for the second time but could not break above it, instead it closed at this level and this week I expect possible bearish movements. My advice, pick short positions now at the level mentioned above with your take profit at 11921 and stop-loss at 19963, if there is clear break below the level 11921 with a big red candle, I expect the value of this company’s shares to plummet further to the lower side after a correction to the broken line, on the other hand in case of a break above the level 17535, I expect a possible rally towards the resistance zone 22455-22169.
Trade recommendation
Sell #HSI now at 17535 with your take profit at 11921.
#CAC40 weekly
Technical observation
Since it bounced within the resistance zone 5738.1-5671.5, #CAC40 has been rising steadily and I expect it to ascend even further. If you picked bullish positions within the zone indicated above after a bounce, I recommend that you remain in the trade with your take profit at 7211.3 and stop-loss at 4973.3. In case of a clear break above the level 7211.3, wait for a correction to it and a bounce before you continue long, however, if there is clear break below the zone 5738.1-5671.5 with a big red candle, I expect the value of #CAC40 to plummet towards the supportive level 3768.9 after a correction and a rejection at the broken line.
Trade recommendation
Remain long with your take profit at 7211.3.
#ASX weekly
Technical observation
For the past 4 consecutive weeks #ASX has been trading with an increasing bullish bias and as long as it is sustained above the zone 6497.6-6442.4 I expect a continuation of this upwards movement. If you are currently holding bullish positions I recommend that you remain in the trade with your take profit at 7615.6 and stop-loss at 5974.2, a further surge to the upper side can be expected in case of a clear break above the level 7615.6, however, in case of a break below the zone I have indicated above, I expect the value of #ASX to descend towards the supportive level 5495.5 or even lower to the supportive level 4501.0.
Trade recommendation
Remain bullish with your take profit at 7516.6.
