#FTSE100 weekly
Technical observation
#FTSE100 retraced to a zone 6400.5-6346.6 but did not break below it. It bounced within the zone and for two consecutive weeks now, it has been trading with an increasing bullish bias. I expect this upwards movement to continue to the resistance line 7130.5 followed by either a clear breakout above it with a big green candle, or a rejection at it followed by another retracement to the zone mentioned above. If you bought this commodity’s shares within the zone mentioned above, remain in the trade with your take profit at 7130.5 and stop loss at 6017.5, I can only recommend bullish positions for #FTSE100.
Trade recommendation
Remain long with your take profit at 7130.5.
#WTI weekly
Technical observation
On the weekly chart above, #WTI retraced to a supportive zone 50.59-49.29 then bounced within it. This commodity is currently trading with an increasing bullish momentum towards the resistance level 76.59. I expect either a clear breakout above the same line with a big green candle, or a rejection at it followed by a pullback to the zone mentioned above. My advice, remain long with your take profit at 76.59 and stop loss at 41.35. On your way upwards the key levels to look for include, 76.59, 106.99 and 137.30. As long as the value of #WTI is contained above 50.59-49.29, only bullish positions is ideal.
Trade recommendation
Remain bullish with your take profit at 76.59.
#NIKKEI weekly
Technical observation
Last week #NIKKEI rose and broke above a resistance line 28773 with a big green candle and it is currently trading with an increasing bullish momentum. I expect a correction to the just broken line followed by a bounce at it for a possible rally to the upper side. My advice, remain neutral and wait for a retracement to the line 28773 and a bounce at it to buy # NIKKEI. In case this commodity is not contained above the level 28773 and instead penetrates below it with a big red candle, wait for a correction to the just broken line and rejection at it confirming a possible momentum to the lower side before you sell #NIKKEI.
Trade recommendation
Remain neutral.
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