BRENT
As we can see in the H4 chart, Brent is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to test 3/8, rebound from it, and then resume falling towards the support at 1/8. However, this scenario may no longer be valid if the asset breaks 3/8 to the upside. After that, the instrument may continue growing and reach the resistance at 5/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
S&P 500
As we can see in the H4 chart, after breaking 5/8, the S&P Index is no longer trading within the consolidation range. In this case, the price is expected to continue trading upwards to reach the resistance at 6/8. However, this scenario may no longer be valid if the asset breaks 5/8 to the downside. After that, the instrument may fall and reach the support at 3/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, may continue its growth.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.