Brent Oil weekly Review
Technical Observation
Brent oil is currently in an trend. While the price is contained above the Simple Moving Average attached, I expect further momentum to the upper side and should break and close above 68.67. If you are not already in a long position now, you could wait for pullbacks to the lower side pick low risk buy positions. According to the MACD Indicator attached, the Columns of MACD are above the 0.00 level, and while this is true that the Bars of MACD are above 0.00, we recommend looking for low risk buy positions towards 69.00 or even higher.
Trade Recommendations:
Wait for corrections to pick low risk buy positions.
Gold weekly Review
Technical Observation
Currently gold Is around a 4 hour resistance level 1514.88. Although this symbiol is in an active up trend, we choose to remain silent for now, we’re basically waiting for a break above 1581. To confirm a possible rally evgen higher towards 1600.00 and could breakout even higher. On this chart, the key level s to look for on this chart include 1504.16,1494.45,1480.19 and 1476.0. Any time the price approaches any of these levels, we will be looking for a trade, a bounce on any of these levels from the upper side will attract a buy.
Trade Recommendations:
Wait and buy a break above 1514.88.
Gas weekly review
Technical Observation”
Last week, Gas Established a daily low around 2.159. This is a key support level and while the price is not able to clear break and close below ghis level, we choose to remain on the side lines, this symbol is however, very bearish and abreak below the daily low is highly likely. On this chart, the key levels to look for include 2,204, 2,237, 2.255 and 2.37. The price is likely to pullback to these levels before continuing to the lower side. The mostly likely area this price could pullback up to is between 50.0% fib level to 61.8% fib level.
Trade Recommendations:
Wait and sell a break below 2.189.
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