BRENT
In the H4 chart, after breaking the 200-day Moving Average, Brent is trading above it, thus indicating an ascending tendency. In this case, the pair is expected to test 2/8, rebound from it, and then resume growing towards the resistance at 3/8. However, this scenario may no longer be valid if the price breaks the support at 1/8 to the downside. After that, the instrument may fall to return to 0/8.
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 the ascending tendency.
S&P 500
In the H4 chart, the S&P Index is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to continue growing towards the closest resistance at 8/8. However, this scenario may no longer be valid if the price breaks 7/8 to the downside. After that, the instrument may correct downwards and reach the support at 6/8.
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.
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.