Technical Observation
Brent oil is currently approaching a significant resistance trend line. This trend line has been several in the past as a significant resistance and while the price is not able to clear close above it,we choose to remain on the sidelines or wait for a bounce to pick a sell. As it is now, we are waiting for a clear bounce sign from this trendline to pick a long term sell order towards 61.05. If the price breaks and close above this trend line,then this will be a good sign that we are continuing to the upper side.
Trade Recommendations:
Wait for a sell
Gas weekly Review
Technical Observation
On the Hourly chart attached, Gas is currently rallying within a possible expanding wedge formation. We took a buy following the bounce from the supportive trendline and is still holding, our expectation is that the price should continue to the upper side towards the upper trendline or even break higher. But on the other-side, in case of a move to the lowerside, then a break below the same trendline to the lowerside will give us an ideal place to consider a long term sell order towards 2.195.
Trade Recommendations:
Wait for a bounce from around 2.55 to pick a buy.
Gold review
Technical Observation
Gold markets bounced off from the supportive trend line and is currently heading to the upper side. We expect the current bullish price rally to extend even higher but should not go above the trend line at the top. If you took a buy from around 1453.70, hold onto this position, expect this symbol to proceed even higher with your take profit at 1486.60. On the upper side a clear bounce from 1486.60 will give us an ideal place to pick a possible sell order with our take profit back at 1448.90.
Trade Recommendations:
Remain long with your take profit at 1486.60.
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