BRENT
In the H4 chart, after breaking the 200-day Moving Average, Brent is trading below it to indicate a descending tendency. In this case, the price is expected to continue moving downwards to reach the support at 0/8. However, this scenario may no longer be valid if the asset breaks the resistance at 2/8 to the upside. After that, the instrument may grow towards 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 downwards.
S&P 500
As we can see in the H4 chart, the S&P Index is trading above the 200-day Moving Average to indicate a possible ascending tendency. In this case, the price is expected to test 7/8, break it, and then continue growing towards the resistance at 8/8. However, this scenario may no longer be valid if the asset breaks the support at 6/8 to the downside. After that, the instrument may reverse and correct down to the next support 5/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue growing.
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.