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Short Brent within 80.61-78.85

Short Brent within 80.61-78.85 | 31 Agustus 2018

Brent weekly

Short Brent within 80.61-78.85

Technical observation

Brent has been trading below the resistance zone 80.61-78.85 for several weeks now. Unless there’s a clear breakout above this zone with a big green candle I expect  a surge to the lower side with an ideal take profit at  the support line 61.32 and the next at 44.48.On the other side, should the price breach above 80.61 with  a big green candle, then a confirmation will be required to confirm that  Brent is headed to the upper side. A correction to the just broken zone followed by  a rejection of price within it will be the best confirmation that the price is moving to the upper side towards the resistance  103.06.

Trade signal

Short Brent within 80.61-78.85 with your take profit at 61.32 and stop loss slightly above80.61.

    NIKKEI Weekly

Short Brent within 80.61-78.85

Technical observation

NIKKEI has been trading on a downward trend with several corrections at the resistance zone 22912-22680.Right now it is within the zone and I expect a rejection within it followed by bearish momentum towards 20278.I went short previously within 22912-22680  and I’m still looking to short NIKKEI  again within the zone with my take profit at 20278 and stop loss slightly above 22912.In case of  a clear breakout above 22912-22680 with  a big green candle, wait for a correction to the just broken zone followed by  a rejection within it before you enter long positions. Now you can short NIKKEI within 22912-22680.

 Trade signal

Short NIKKEI within 22912-22680 with your take profit at 20278 and stop loss slightly above 22912 .

  WTI Weekly

Short Brent within 80.61-78.85

Technical observation

Light sweet crude oil is trading above  a supportive zone 64.18-61.94,currently it is on a bullish bias, I went long previously within 64.18-61.94 and I’m still holding onto this position I expect a rise towards the resistance 76.80 followed by a breakout above it for a further rally towards 93.12. If you are not in any positions right now you can wait for a pull back to 64.18-61.94 to pick low risk long position. In case of clear breakout below the zone, wait for a retracement to the just broken zone followed by a rejection of price within it to confirm downwards movements  before you enter short positions .

Trade signal

Rebuy Light Sweet Crude Oil within 64.18-61.94.

 Do you know against which currencies CFD is the most profitable?

Short Brent within 80.61-78.85

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Imelda Maseno
Analyst of «FreshForex» company
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