In the H4 chart, Brent is consolidating below 5/8. In this case, the pair is expected to continue falling to reach the closest support at 4/8. However, this scenario may no longer be valid if the price breaks the support at 5/8 to the upside. After that, the instrument may continue growing towards the resistance at 6/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue the descending tendency.
S&P 500
In the H4, the S&P Index has broken the 200-day Moving Average and the consolidation range to the downside. In this case, the price may continue falling within the downtrend towards the support at 0/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may grow and reach the resistance at 5/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue its decline.
