As see can see in the H4 chart, Brent is trading within the “overbought area”. In this case, the price is expected to break 8/8 and resume falling towards the support at 7/8. However, this scenario may no longer be valid if the price breaks 1/8 to the upside. After that, the instrument may move upwards and reach the resistance at 2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline.
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 test 7/8, break it, and then continue growing towards the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may correct to reach the support at 5/8.
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 trading upwards.
