Brent weekly
Technical observation
Recently, Brent broke above a support zone,(62.35-60.83)while on an upward trend, it then retraced back to the zone twice before trading up to a key resistance line,70.16,Right now Brent is correcting to (62.35-60.38)and I expect a possible rejection of it within or around the zone for bullish movements of price towards 70.16 or even a break out above it for a further increase in price. I would advise you wait for a pullback to the zone then buy Brent with your take profit at 70.16 and stop loss around 55.39.Only sell Brent in case of a break out below (62.35-60.38)and a correction to it.
Trade signal
Buy Brent around 62.35-60.38 with your take profit at 70.16 and stop loss around 55.39
Gold Weekly
Technical observation
Gold has been trading on an upward trend, recently it went above a resistance zone (1315.87-1306.54),it then raced up to a resistance line 1366.42 before correcting to the zone ,right now Gold is rallying above the zone and I expect a rejection of it to long Gold with my take profit at 1366.42 and stop loss around 1288.02.In case there’s a clear break out below (1315.87- 1306.540 with a big red candle, then that would be the ideal time to enter short positions with your target at 1257.46 or even lower to 1205.44 if there’s a clear breach of price below 1257.46.You can either buy Gold now or wait for the current candle to close.
Trade signal
Buy gold within or around (1315.87-1306.54) with your take profit at 1366.42 and stop loss around 1288.02.
Platinum weekly
Technical observation
The general trend for platinum is downward, it retraced at a key resistance line 1013.66 before declining down to a key line 885.25.Recently, Platinum was corrected to the line and got rejected then went down but could not reach line 885.25, right now it is pulling back again to1013.66 and I expect a possible rejection of it for bearish movements of price toward 885.25, I would advise you short platinum after a rejection around 1013.66 with your take profit at 885.25 and stop loss around 1067.21.If there’s a clear breakout of price above 1013.66,wait for a correction to it before you enter long positions.
Trade signal
Wait for a pullback to 1013.66 to sell platinum with your take profit at 885.25 and stop loss around 1067.21.
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