In the H4 chart, Brent is trading above the 200-day Moving Average to indicate a possible ascending tendency. In this case, the price is expected to break 2/8 and continue moving upwards to reach the resistance at 3/8. However, this scenario may no longer be valid if the asset breaks 1/8 to the downside. After that, the instrument may reverse and fall towards the support at 0/8.
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 trading upwards.
As we can see in the H4 chart, the S&P Index is trading below the 200-day Moving Average to indicate a descending tendency. In this case, the price is expected to test 4/8, break it, and then continue falling towards the support at 3/8. However, this scenario may no longer be valid if the asset breaks 5/8 to the upside. After that, the instrument may reverse and grow to reach the resistance at 6/8.
In the M15 chart, after breaking the downside line of the VoltyChannel indicator, the pair may continue its decline.
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.