FreshForex - Analytics

    FreshForex

    615.75 7.75/10
    65% of positive reviews
    Real

    Weekly review: S&P500, Brent, Gold

    S&P500

    Monthly chart: the index “bounced” from the bottom Bollinger band but it barely changes the full tendency for the reverse down.

    Weekly chart: strong resistance in the zone of the middle Bollinger band (2004.1), we wait for the bounce down.

     

     

    Daily chart: we note the resistance zone 2004.1-2045.2 formed by the upper Bollinger band.

     

    Expectations: growth to the zone 2004.1-2045.2 and a bounce then.

     

     

    Trading solutions:

    1) Buys to 2004.1-2045.2

    2) Wait with sales from 2045.2

     

    Brent

     

    Monthly chart: bulls conducted a significant correction in the end of January but the month’s closure is not considered to be successful for them.

     

    Weekly chart: probable correction target is the middle Bollinger band (43.39).

     

    Daily chart: more localized resistance 38.50.

     

    Expectations:

     

    The main scenario: growth to 38.50 and a new decline to 32.73 then.

     

    Alternative scenario: more significant correction to 42.38

     

    Trading solutions:

     

    1) Buys to 38.50 (and search for new signals down then)

     

    2) Buys to 42.38

     

    Gold

    Monthly chart: a technical correction to the middle Bollinger band is continued (1186.35).

     

    Weekly chart: we confirm the target to 1186.35.

     

    Daily chart: there may be a resistance in the upper Bollinger band (1128.71) as the ADX didn’t reach the trend zone.

     

    Expectations:

     

    The main scenario: bounce down from 1128.71 in the direction to 1106.72

     

    Alternative scenario: breakthrough under 1128.71 and the target to 1186.35

     

    Trading solutions: buys from the zone 1106.72 (after the pullback down) with the middle-term target 1186.35


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