As we can see in the H4 chart, after rebounding from the 200-day Moving Average, Brent is trading above it, thus indicating an ascending tendency. In this case, the price is expected to test the resistance 7/8, break it, and continue growing towards 8/8. However, this scenario may no longer be valid if the asset breaks 6/8 to the downside. After that, the instrument may move downwards and reach the support at 5/8.
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 rebounding from 3/8, the S&P Index is expected to resume growing towards the resistance at 4/8. However, this scenario may no longer be valid if the asset breaks 3/8 to the downside. After that, the instrument may fall to reach the support at 2/8.
As we can see in the M15 chart, the upside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may resume the ascending tendency only after rebounding from 3/8 from the H4 chart.
