In the H4 chart, Brent is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the pair is expected to test 3/8, rebound from it, and then resume growing towards the resistance at 4/8. However, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may correct downwards and reach the support at 2/8.
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.
S&P 500
As we can see in the H4 chart, after reaching the “overbought area”, the S&P Index may start a new correction. In this case, the price is expected to break 7/8 and continue falling towards 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 move downwards and reach the resistance at 1/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue the descending tendency.
