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January 7, 2019

Weekly analytics- Forex Technical Analysis: Trend potential - Sell # SP500 within 2603.2-2570.2

CAC40, weekly

Sell  # SP500 within 2603.2-2570.2

Technical observation

After the breakout below the support 5009.5-4950.4, CAC40, is correcting to the just broken zone and my expectation is a bounce within it for possible bearish rally towards 4580.5 and a breakout below it for a further decline. You can wait for the correction to the above mentioned zone and a rejection within it to sell this commodity with your take profit at 4580.5 and stop loss at 5205.8.Should there be a clear penetration below 4580.5, wait for a correction confirming further bears domination before you continue short towards the lowest support level 4006.0.Right now you wait for a retracement to 5009.5-4950.4 to sell CAC40.

Trade recommendation

Wait for a retracement to 5009.5-4950.4 to sell CAC40.

ESTX50, weekly

Sell  # SP500 within 2603.2-2570.2

Technical observation

Last week this commodity did not penetrate below the support 2906.8, instead it rallied up and I still expect more bullish rally towards the key resistance zone 3298.3-3264.6 followed by a rejection within it to pick short positions with my ideal target at 2906.8 and stop loss at 3427.0.As long as ESTX50 is contained below 3298.3-3264.6 only bearish momentum of this commodity can be anticipated. Long positions may only be recommended should there be a clear penetration above the zone 3298.3-3264.6 with a big green candle followed by a correction to it confirming possible bullish momentum towards the resistance 3695.0.

Trade recommendation

Wait for a pullback to 3298.3-3264.6 to sell

ESTX50.SP500, weekly

Sell  # SP500 within 2603.2-2570.2

Technical observation

#SP500 is rallying on an increasing bullish momentum around a resistance zone 2603.2-2570.2, my expectation is a loss of this movement within the above mentioned zone for possible bearish rally towards 2345.2. I am waiting for a close within 2603.2-2570.2 to sell this commodity with my take profit at 2345.2 and stop loss at 2734.5. In case of a clear penetration below 2345.2 then further bearish momentum will be anticipated towards the key level 1988.6. On the weekly chart above, long positions, may only be recommended should there be a clear penetration above 2603.2-2570.2 with a big green candle followed by a correction to it.

Trade recommendation

Wait for a close within 2603.2-2570.2 to sell this # SP500

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