As we can see in the H4 chart, Brent has reached the “overbought area”. In this case, the asset is expected to break 8/8 and then correct downwards to reach the support at 6/8. However, this scenario may no longer be valid if the price breaks +1/8 to the upside. After that, the instrument may continue growing towards the resistance at +2/8.
In the M15 chart, the price has broken the downside line of the VoltyChannel indicator again and, as a result, continue the descending tendency.
As we can see in the H4, the S&P Index is moving above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the asset is expected to rebound from 5/8 and then c resume growing towards its all-time highs at 6/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may correct to reach the support at 4/8.
In the M15 chart, the price is quite far away from the upside line of the VoltyChannel indicator, that’s why it may resume growing only after rebounding from the 5/8 from the H4 chart.
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.