#SP500 weekly
Technical observation
On the weekly chart above, #SP500 has been trading with an increasing bearish bias for the past two weeks and this week I anticipate a further rally to the lower side. My advice, remain neutral and wait for a pullback to the supportive zone 3687.1-3523.7 then re-buy this index within it with your take profit still at 4785.2 and stop-loss at 3202.9. If the value of this index is not sustained above the zone I mentioned earlier but clearly breaks below it with a big red candle, wait for a pullback to this zone before you short #SP500, on your way downwards the key levels to look for include 2292.4 and 1274.1.
Trade recommendation
Remain flat.
#NIKKEI weekly
Technical observation
#NIKKEI is trading with an increasing bearish bias slightly below the resistance level 33850. This downwards movement is a correction to the supportive zone 25436-25126 and my expectation is a surge to this zone followed by a possible bounce within it, right now I recommend that you remain neutral and wait for a pullback to the zone I have mentioned above the sell a bounce within it with your take profit at 33850 and stop-loss at 22852, if there is a rise above the level 33850, I expect the value of #NIKKEI to ascend even further; contrary, I anticipate possible bearish movements towards 15127 in case of a breach below the zone 25436-25126.
Trade recommendation
Wait for a correction to the zone 25436-25126 to re-buy #NIKKEI.
#WTI weekly
Technical observation
On the chart above, #WTI retraced to a zone 66.33-64.20 for a second time then bounced within it and since then it has been trading with an increasing bullish bias. Last week there was a slight retracement to the lower side but this week I anticipate a possible rally to the upper side, if you are already holding bullish positions, I recommend that you remain in the trade with your take profit at 126.36 and stop-loss at 51.35. In case there is a clear break above the level 126.36 with a big green candle, wait for a pullback to this line before you continue long, on the other hand, short #WTI towards 18.67 in case of a clear break below the zone 66.33-64.20.
Trade recommendation
Remain long with your take profit at 126.36.
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