Remain flat with #HSI | 14 April 2023

#NQ100 weekly

Remain flat with #HSI

Technical observation

#NQ100 bounced within the supportive zone 10455.3-10689.3 and since then it has been trading with an increasing bullish bias, if you bought this index within the zone indicated above, I recommend you remain in the trade with your take profit at 16752.1 and stop-loss at 9101.5.Should there be a clear break above the level 16752.1, remain flat and wait for a correction to the broken line before you continue long, on the other hand, in case of a break below the zone 10455.3-10689.3, I expect the value of #NQ100 to plummet towards the supportive levels 6837.1 and 3430.6 or even lower to the key level 3430.6.

Trade recommendation

Remain bullish with your take profit at 16752.1.

#Brent weekly

Remain flat with #HSI

Technical observation

#Brent gapped to the upper side but did not break above the zone it established at 89.08-86.78, instead it bounced within the same zone and currently it is trading with an increasing bearish bias. This week I expect a continuation of this bearish movement and in case you are holding bearish positions, I recommend you remain in the trade with your take profit at 46.07 and stop-loss at 101.50.If there is a break below the level 46.07, wait for a correction to the broken line before you continue short towards the supportive level 19.15 or lower. On the chart above, I can only recommend bullish positions in case of a break above the zone 89.08-86.78.

Trade recommendation

Remain short with your take profit at 46.07.

#HSI weekly

Remain flat with #HSI

Technical observation

#HIS bounced within the zone 22713-22263 but did not break above it instead it bounced within the same zone then declined for a while however for the past the two consecutive weeks the value of this index has been trading with an increasing bullish bias, this upwards movement is a slight pullback to the zone I have indicated above and I expect a rejection within it followed by a surge to the lower side. My advice, if you are neutral with #HSI, remain flat and wait for a correction to the zone 22713-22263 then sell a bounce within it with your take profit at 14752 and stop-loss at 25386. A further surge to the lower side can be expected in case of a break below the level 14752.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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