#XAUUSD weekly
Technical observation
The value of the commodity on the weekly chart above declined to the supportive zone 1764.41-1746.89 but could not break below it and for several weeks now, it has been trading with an increasing bullish bias. As long the value of #XAUUSD remains above the zone 1764.41-1764.89, I expect a continuation of this upwards movement to the resistance level 2035.92 followed by either a bounce at and another retracement to the zone mentioned above or a clear breakout above it with a big green candle. If you are currently long with this commodity, remain in the trade with your take profit at 2035.92 and stop loss at 1661.01.
Trade recommendation
Remain long with your take profit at 2035.92.
#IBEX35 weekly
Technical observation
#IBEX35 declined and broke below the zone 8477.6-8384.5 but it could not be contained below it, instead, it rose above the same zone with a big green candle and since then it has been trading with an increasing bullish bias, however, last week the value of this company’s shares declined with a big red candle and I expect a continuation of this downward movement to the zone mentioned above followed by a rejection within it to pick long positions with my take profit at 9968.5 and stop loss at 7733.2. As long as #IBEX35 is sustained above the supportive zone 8477.6-8384.5, I can only recommend picking bullish positions.
Trade recommendation
Wait for a correction to the zone 8477.6-8384.5 to buy #IBEX35.
#NIKKEI weekly
Technical observation
Last week the value of #NIKKEI declined with a big red candle and this week I expect either a clear breakout below the supportive zone 27470-27205 with a big red candle or a bounce within the zone. In case the value of this company’s shares remain above the zone mentioned above, I expect a possible rally to the resistance level marked at 30770, however, in case of a clear breakout below the same zone with a big red candle, I expect a retracement and a rejection within it followed by surge to the lower side. On your way downwards the key levels to look for include, 24041, 19778 and the lower supportive level 15447.
Trade recommendation
Remain neutral.
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