Brent
In the daily chart, after breaking the long-term 76.0% fibo, Brent continues growing towards the long-term high at 87.09. However, a divergence on MACD may indicate a possible pullback to reach the local support, which is 61.8% fibo at 59.80.
As we can see in the H4 chart, the ascending wave is trying to enter the post-correctional extension area between 138.2% and 161.8% fibo at 75.10 and 77.62 respectively. On the other hand, a breakout of the support, which is the fractal low at 60.46, may result in a mid-term correctional decline.
Dow Jones
As we can see in the H4 chart, after breaking the low at 33295.0 and attempting to test 23.6% fibo at 32968.5, the Dow Jones index correcting to the upside. Possibly, the asset may break the high at 35102.0 and then continue the uptrend towards the post-correctional extension area between 138.2% and 161.8% fibo at 35786.0 and 36210.0 respectively but this scenario is rather unlikely. The most probable idea implies a new descending impulse to reach 38.2% at 31651.0.
The H1 chart shows a more detailed structure of the current correctional uptrend, which, after breaking 50.0% fibo, has failed to reach 61.8% fibo at 34161.7. The asset may yet continue growing and even reach 76.0% fibo at 34418.0 but is later expected to reverse and fall towards the support at 33035.0. If the price breaks the latter level, the instrument will finish the correction and resume its mid-term decline.
