BRENT
As we can see in the H4 chart, Brent is moving below the 200-day Moving Average, thus indicating a descending tendency. At the moment, the price is rebounding from the support at 0/8. In this case, the asset is expected to correct upwards to reach the resistance at 3/8. However, this scenario may no longer be valid if the price breaks 0/8 to the downside. After that, the instrument may continue falling towards the support at -2/8.
In the M15 chart, the asset may break the upside line of the VoltyChannel indicator and, as a result, continue the ascending tendency.
S&P 500
As we can see in the H4 chart, the Index is moving below the 200-day Moving Average, thus indicating a descending tendency. At the moment, the price is moving within the “oversold area”. In this case, the asset is expected to break 0/8 and then correct towards the resistance at 2/8. However, this scenario may no longer be valid if the price breaks -1/8 to the downside. After that, the instrument may correct downwards to reach the support at -2/8.
In the M15 chart, the price may break the upside line of the VoltyChannel indicator and, as a result, 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.