Brent
As see can see in the H4 chart, Brent is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 6/8 and then continue growing towards the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may move downwards and reach the support at 4/8.
In the M15 chart, the upside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may resume growing only after breaking 6/8 from the H4 chart.
S&P 500
As we can see in the H4 chart, the S&P Index is trading above the 200-day Moving Average, thus indicating an ascending tendency, and has already broken 4/8. In this case, the price is expected to continue growing towards the resistance at 5/8. However, this scenario may no longer be valid if the price breaks 4/8 to the downside. After that, the instrument may fall to reach the support at 3/8.
in the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, 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.