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Sell #WTI within 41.70-43.12

Sell #WTI within 41.70-43.12 | 04 September 2020

 #Brent weekly

Sell #WTI within 41.70-43.12

Technical observation

On the weekly chart above, price is trading with an increasing bullish momentum around a resistance zone it established around 46.26-44.60.  My expectation is either a clear breakout above the zone with a big green candle, or a bounce within it. In case of a break above 46.26-22.60, wait for a correction to it and a rejection within it to confirm bullish movements before you buy # Brent with your take profit at 58.07 and stop loss at 38.29.  In case of a bounce within 46.26-44.60, sell this commodity within the zone with your take profit at the supportive level marked at 24.84 and stop loss at 51.73.

 Trade recommendation

 Remain flat temporarily.

#WTI weekly

Sell #WTI within 41.70-43.12

Technical observation

 The commodity on the chart above is trading with an increasing bullish momentum within a zone 41.70-43.12. I expect a loss of this upwards movement within the zone mentioned above for bearish movements of price towards the key line 30.37. However, the value of this commodity could still penetrate above the zone 41.70-43.12. My advice, short this commodity within the resistance zone after a bounce with your take profit at 30.37 and stop loss at 48.66. In case of a break above 41.70-43.12, wait for retracement to it before you long this commodity towards the resistance level marked at 62.75.

 Trade recommendation

Sell #WTI within 41.70-43.12 with your take profit at 30.37.

#FTSE100 weekly

Sell #WTI within 41.70-43.12

Technical observation

The value of the commodity on the chart above is trading with an increasing bearish momentum between a supportive level 5490.9 and a resistance zone 6466.3-6422.7. I expect either a decline to the supportive level followed by a break below it for a surge to the lower side towards 4820.7, or a rise to the zone 6466.3-6422.7 followed by a either a bounce within it or a breach above it. In case of a rejection within 6466.3-6422.7 sell this commodity within it with your take profit at 5490.9 and stop loss at 6735.6. Right now remaining neutral with this pair is ideal than picking any positions.

Trade recommendation

 Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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