As we can see 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 break 4/8 and then continue growing towards the resistance at 5/8. 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.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.
S&P 500
In the H4 chart, after completing the correction, the S&P Index is once again approaching the ”overbought area”. In this case, the price is expected to break 8/8 and continue growing towards the resistance at 1/8. However, this scenario may no longer be valid if the price breaks 7/8 to the downside. After that, the instrument may move downwards and return to 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 the ascending tendency.