In the H4 chart, Brent is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the pair is expected to test 3/8, rebound from it, and then resume 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 correct downwards and reach the support at 2/8.
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.
As we can see in the H4 chart, after reaching the “overbought area”, the S&P Index may start a new correction. In this case, the price is expected to break 7/8 and continue falling towards the support at 6/8. However, this scenario may no longer be valid if the price breaks 8/8 to the upside. After that, the instrument may move downwards and reach the resistance at +1/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue the descending tendency.
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.