BRENT
In the H4 chart, there has been a “false” breakout of 3/8. In this case, later the price is expected to continue growing towards the resistance at 4/8. However, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may continue falling towards the support at 2/8.
As we can see in the M15 chart, the asset has broken the upside line of the VoltyChannel indicator and, as a result, may continue the ascending tendency.
S&P 500
In the H4 chart, the Index is moving above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the asset is expected to break 5/8 and then continue growing towards the resistance at 6/8. However, this scenario may no longer be valid if the price breaks 4/8 to the downside. After that, the instrument may correct downwards to reach the support at 3/8.
As we can see in the M15 chart, the price has broken the upside line of the VoltyChannel indicator and, as a result, may continue its growth.
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.