The H4 chart shows that after falling and reaching 50.0% fibo, Brent is trading to break the local high at 69.97 and then reach the key one at 71.07. However, as long as the high isn’t broken, there is a possibility of a reversal and a new decline towards 61.8% and 76.0% fibo at 64.09 and 62.75 respectively, and then the low at 60.46, a breakout of which may lead to a further mid-term downtrend to reach 23.6% fibo at 58.00.
As we can see in the H1 chart, the asset is about to start a new correction after a local divergence on MACD. At the same time, one should note that the previous rising impulse has reached 76.0% fibo. In this case, the market is more likely expected to continue growing to break the highs at 69.97 and 71.07, and then reach the post-correctional extension area between 138.2% and 161.8% fibo at 72.05 and 73.33 respectively. The local support is the low at 64.50.
As we can see in the H4 chart, Dow Jones is correcting to the upside after a divergence on MACD and, after breaking 61.8% fibo, has failed to reach 76.0% fibo at 34669.0. In this case, the asset may start a new decline soon towards the low at 33295.0, and then mid-term 23.6% and 38.2% fibo at 32970.0 and 31651.0 respectively.
The H1 chart shows potential downside targets after a local divergence on MACD. By now, the index has already reached 23.6% fibo but may resume growing towards the local high at 34535.0 or even break it. However, if the current decline continues, it may reach 38.2%, 50.0%, 61.8%, and 76.0% fibo at 34060.0, 33915.0, 33770.0, and 33593.0 respectively. Still, the key downside target is the local support at 33295.0.