In the H4 chart, after breaking the 200-day Moving Average, Brent is trading above at above it to indicate a possible ascending tendency. In this case, the price is expected to test 2/8, break it, and then continue moving upwards to reach the resistance at 3/8. However, this scenario may no longer be valid if the asset breaks the support at 1/8 to the downside. After that, the instrument may reverse and return to 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 break 2/8 and continue falling towards the support at 0/8. However, this scenario may no longer be valid if the asset breaks the resistance at 3/8 to the upside. After that, the instrument may reverse and grow to reach 5/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, 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.