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Wait for a pullback to sell #Gas

Wait for a pullback to sell #Gas | 03 November 2023

#Gas weekly

Wait for a pullback to sell #Gas

Technical observation

#GAS declined to the supportive level 1.570 then bounced slightly above it and since then it has been trading with an increasing bullish bias, this upwards movement is a correction to the zone 5.061-4.850 and I expect a possible bounce within it followed by a momentum to the lower side. My advice, remain flat and wait for a pullback to the zone indicated above then sell a rejection within it with it with your take profit at 1.570 and stop-loss at 6.084. In case the value of #Gas is not sustained below the zone 5.061-4.850 but clearly penetrates above it with a big green candle, I anticipate possible upwards movement towards the key level 9.543.

Trade recommendation

Wait for a pullback to the zone 5.061-4.850 to sell #Gas.

#WTI weekly

Wait for a pullback to sell #Gas

Technical observation

#WTI pulled back to the supportive zone 66.35-63.89 then bounced within it and since then it has been trading with an increasing bullish bias, this week I expect a further momentum to the upper side and if you are already holding bullish positions with this pair, remain in the trade with your take profit at 120.09 and stop-loss at 49.11. In case of a break above the level 120.09, wait for a correction to this line before you continue long with this commodity, on the other hand, in case of a clear break below the zone I mentioned earlier with a big red candle, short #WTI towards the supportive level 9.93 or lower.

Trade recommendation

Remain long with your take profit at 120.09.

#NQ100 weekly

Wait for a pullback to sell #Gas

Technical observation

 On the chart above, the value of #NQ100 is trading with an increasing bearish bias slightly below the level 16627.0 .This week I expect a continuation of this downwards movement towards the supportive zone 10664.3-10476.7 followed by either a rejection within it or a clear break below it with a big red candle; My advice, remain neutral and wait for a correction to the zone indicated above then re-buy this index within it with your take profit at 16627.0 and stop-loss at 8850.5, should there be a breach below the zone I mentioned earlier, wait for a pullback to this zone before you short #NQ100 towards the key level 16627.0.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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