BRENT
In the H4 chart, after breaking 0/8, Brent is no longer trading within the “oversold area”. In this case, the price is expected to continue moving upwards to reach the resistance at 1/8. However, this scenario may no longer be valid if the asset breaks the support at 0/8 to the downside. After that, the instrument may reverse and fall to return to -1/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue its growth towards 1/8 from the H4 chart.
S&P 500
On the H4 chart, after breaking the 200-day Moving Average, the S&P Index is trading above it to indicate a possible ascending tendency. In this case, the price is expected to break 3/8 and continue growing towards the resistance at 4/8. However, this scenario may no longer be valid if the asset breaks the support at 2/8 to the downside. After that, the instrument may reverse and fall to reach 1/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.