Brent
In the H4 chart, after breaking the 200-day Moving Average, Brent is trading below it, thus indicating a possible descending tendency. In this case, the price is expected to test 5/8, rebound from it, and then resume falling towards the support at 3/8. However, this scenario may no longer be valid if the asset breaks 5/8 to the upside. After that, the instrument may continue growing and reach the resistance at 7/8.
As we can see in the M15 chart, the downside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may resume the descending tendency only after rebounding from 5/8 from the H4 chart.
S&P 500
In the H4 chart, the S&P Index is still trading above the 200-day Moving Average, thus indicating an ascending tendency. The situation is quite stable as the asset continues growing slowly but steadily. In this case, the price is expected to continue trading upwards to reach the closest resistance at 5/8. However, this scenario may no longer be valid if the asset breaks 4/8 to the downside. After that, the instrument may correct towards the support at 3/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue its 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.