Brent oil quotes broke through the 200-day Moving Average on D1 and are currently below it, suggesting the possibility of a downward trend. However, there is convergence on the RSI indicator, so a pullback from the 2/8 (81.25) level followed by a rise to the 3/8 (84.38) resistance level is expected. A breakout above the 1/8 (78.12) level could invalidate this scenario, leading to a potential decline to the 0/8 (75.00) support level.
On M15, a breakout above the upper line of the VoltyChannel would provide an additional signal supporting the price increase.
S&P 500
S&P 500 index quotes have remained above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI indicator has breached the resistance line. In this scenario, the price is expected to exceed the 6/8 (5312.5) level and rise further to the 7/8 (5468.8) resistance level. A breakout below the 5/8 (5156.2) support level could invalidate this scenario, potentially leading to a decline to the 4/8 (5000.0) support level.
On M15, a breakout of the VoltyChannel upper line will increase the probability of a 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.