Brent quotes are on the 200-day Moving Average on H4, indicating a lack of any trend. The RSI is testing the resistance line. In this situation, a downward breakout of 2/8 (78.12) is expected, followed by a price decline to the support at 0/8 (75.00). The scenario could be cancelled by rising above 3/8 (79.69). In this case, Brent quotes might rise to the resistance at 5/8 (82.81).
On M15, a breakout of the lower boundary of the VoltyChannel could increase the probability of a price decline.
S&P 500
The S&P 500 index quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI has broken the resistance line. In this situation, the price is expected to rise above 7/8 (4804.7) and continue growing to the resistance at 8/8 (4843.8). The scenario could be cancelled by a downward breakout of the support at 6/8 (4765.6), in which case the stock index might drop to the 5/8 (4726.6) level.
On M15, the upper boundary of the VoltyChannel is broken. This increases the probability of a further price rise.
Attention!
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.