In the H4 chart, Brent 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 continue growing towards the resistance at 8/8. However, this scenario may no longer be valid if the asset breaks 6/8 to the downside. After that, the instrument may resume falling and 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.
S&P 500
As we can see in the H4 chart, after breaking 5/8 to the downside, the S&P Index is consolidating again. In this case, the price is expected to continue trading downwards to reach the support at 4/8. However, this scenario may no longer be valid if the asset breaks 5/8 to the upside. After that, the instrument may grow towards the resistance 6/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, may continue its decline.
