#XAUUSD weekly
Technical observation
Last week the value of the commodity on the chart above declined with a big red candle, however, it could not reach the supportive zone 1764.41-1746.89, this week I expect further bearish movements to the same zone followed by a rejection within it to pick short positions with my take profit at 2035.9 and stop loss at 1867.67. In case the value of this commodity is not sustained above the zone I have mentioned above but clearly breaks below it with a big red candle, I expect a pullback to the just broken zone followed by a rejection within it to pick short positions towards the supportive level 1457.86 or lower.
Trade recommendation
Remain neutral.
#IBEX35 weekly
Technical observation
On the chart above, #IBEX35 declined and sent a tail to the supportive zone 8477.6-8384.5 but could not break below it, this week I expect further bearish movements to the same zone followed by a bounce within it and a momentum to the upper side. My advice, remain neutral and wait for a correction to the zone mentioned above then buy a bounce within it with your take profit at 9958.5 and stop loss at 7711.5. In case there is a clear breakout above the resistance level 9958.5 with a big green candle, I expect further bullish movements towards the upper level 11200.5. On the chart above I can only recommend short positions below the zone 8477.6-8384.5.
Trade recommendation
Wait for a correction to the zone 8477.6-8384.5 to buy #IBEX35.
#NIKKEI weekly
Technical observation
On the chart above, #NIKKEI declined with a big red candle and closed below the zone it established at 27470-27205, this week, I expect further bearish movements below the same zone or a correction to the zone and a rejection within it to pick short positions with my take profit at 19778 and stop loss at 28825. On the weekly chart above as long as the value of #NIKKEI is sustained below the zone 27470-27205, I can only recommend picking bearish positions. Should there be a clear breakout below the supportive level 19778 with a big red candle, I expect a further momentum towards the lower supportive level 15447.
Trade recommendation
Remain flat.
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