Brent
On H4, Brent quotes are under the 200-day Moving Average, revealing the prevalence of a downtrend. The RSI is nearing the resistance line. As a result, a downward breakout of 1/8 (78.12) is expected, followed by a decline to the support at 0/8 (75.00). The scenario can be canceled by rising above the resistance at 2/8 (81.25), which could lead to a trend reversal and growth of Brent quotes to 3/8 (84.38).
On M15, the lower line of the VoltyChannel indicator is broken. This indicates a high probability of further falling.
S&P 500
On H4, the index quotes are above the 200-day Moving Average, which indicates the prevalence of an uptrend. The RSI has broken the resistance line. In this situation, the quotes are expected to rise above 5/8 (4140.6) and possibly grow to the resistance at 6/8 (4218.8). The scenario can be canceled by a downward breakout of the support at 4/8 (4062.5), which could lead to a trend reversal and falling to the support at 3/8 (3984.4).
On M15, the upper line of VoltyChannel is broken, which confirms the uptrend and increases the probability of further price growth.
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.