BRENT
As we can see in the H4 chart, after reaching the “oversold area”, Brent is trading at 0/8. In this case, the price is expected to rebound from this level and resume moving upwards to reach the resistance at 2/8. However, this scenario may no longer be valid if the asset breaks 0/8 to the downside. After that, the instrument may fall towards the support at -1/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.
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 6/8, break it, and then continue growing towards 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 reverse and correct down to 4/8.
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.