Brent
As we can see in the H4 chart, Brent is moving between 6/8 and 7/8. In this case, the price is expected to test 7/8, rebound from it, and then resume trading downwards to reach the support at 5/8. However, this scenario may no longer be valid if the price breaks 7/8 to the upside. After that, the instrument may continue growing towards the resistance at 8/8.
In the M15 chart, the asset may break the downside line of the VoltyChannel indicator and, as a result, continue the descending tendency.
S&P 500
As we can see in the H4 chart, the Index has broken the “overbought area”; right now, it is moving below 8/8. In this case, the price is expected to break 7/8 and then continue falling to reach 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 continue growing towards the resistance at +1/8.
In the M15 chart, the asset may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards to reach 6/8 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.