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, break it, and then continue falling towards the support at 2/8. However, this scenario may no longer be valid if the asset breaks 4/8 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.
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, rebound from it, and then resume trading upwards to reach the resistance at 1/8. However, this scenario may no longer be valid if the asset breaks 7/8 to the downside. After that, the instrument may correct and reach the support at 6/8.
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 trading upwards only after rebounding from 7/8 in the H4 chart.
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.