BRENT
In the H4 chart, Brent is trading above the 200-day Moving Average to indicate an ascending tendency. In this case, the price is expected to test 6/8, break it, and then continue moving upwards to reach the resistance at 7/8. However, this scenario may no longer be valid if the asset breaks the support at 5/8 to the downside. After that, the instrument may fall towards 3/8.
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 growing.
S&P 500
In the H4 chart, after breaking the 200-day Moving Average, the S&P Index is trading above it to indicate a possible ascending tendency. In this case, the price is expected to rebound from 4/8 and then resume growing towards the resistance at 5/8. However, this scenario may no longer be valid if the asset breaks the support at 4/8 to the downside. After that, the instrument may reverse and fall to reach 3/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading upwards.
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.