On H4, Brent quotes have bounced off the 200-days Moving Average and are trading above it, indicating the end of the correction and the continuation of the uptrend. A test of 7/8 is to be expected, followed by a breakaway and growth to the resistance level of 8/8. The scenario can be cancelled by a breakaway of the support level at 6/8 downwards. In this case, the quotes can return to 5/8.
On M15, growth can be additionally confirmed by a breakaway upwards of the upper line of VoltyChannel.
S&P 500
On H4, the quotes rest in the overbought area. A test of 0/8 is expected, followed by a breakaway and growth to the resistance level of 2/8. The scenario can be cancelled by a breakaway of the support at -1/8 downwards. This might entail further falling to -2/8.
On M15, a breakaway of the upper line of VoltyChannel will increase the probability of price growth.
