In the H4 chart, Brent is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to break 2/8 and continue moving downwards to reach the support at 0/8. However, this scenario may no longer be valid if the asset breaks 3/8 to the upside. After that, the instrument may reverse and grow towards the resistance at 4/8.
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 its decline.
S&P 500
In the H4 chart, the S&P Index is also trading below the 200-day Moving Average to indicate a possible 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 2/8 to the upside. After that, the instrument may reverse and grow to reach 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.
