After the recent rally enjoyed by investors in both stocks and commodities, Edward Loef, technical analyst at Theodoor Gilissen Bankiers, sees the Nasdaq and London Brent crude paring gains.
The long-term picture for the Nasdaq is providing "an interesting conclusion," Loef told CNBC Thursday.
"First we see a down-sloping trend line," he said. "The rally has not a lot of upside potential right now and therefore I think profit-taking over the next couple of days to weeks is very likely."
The picture for London Brent crude is "confirming weakness ahead," according to Loef.
"The recent uptick in Brent oil is, for me, an opportunity to sell into this rally and I expect a down fall to around $60 in the next couple of weeks," he said.