BRENT
On H4, oil quotes are under the 200-day Moving Average, which indicates a downtrend. A downwards breakaway of 1/8 and subsequent falling to the support level of 0/8 should be expected. The scenario can be canceled by rising over the resistance level of 2/8, which might make the price rise to 3/8.
On M15, the lower line of VoltyChannel is broken away, which confirms the downtrend and a high probability of further price falling.
S&P 500
On H4, the index is under the 200-day Moving Average, which indicates a downtrend. Further falling of the quotes to the nearest support level of 0/8 is expected. The scenario can be cancelled by rising over the resistance level of 1/8, in which case the index might rise to 2/8.
On M15, the lower line of VoltyChannel is broken away, which confirms the probability of further price falling.
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.