BRENT
In the H4 chart, Brent is trading above the 200-day Moving Average, thus indicating a possible ascending tendency. In this case, the price is expected to break 6/8 and then continue moving upwards to reach the resistance at 7/8. However, this scenario may no longer be valid if the asset breaks 5/8 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 trading upwards.
S&P 500
In the H4 chart, after rebounding from the 200-day Moving Average, the S&P Index is trading below it to indicate a descending tendency. In this case, the price is expected to rebound from 2/8 and then resume trading downwards to reach the support at 0/8. However, this scenario may no longer be valid if the asset breaks 3/8 to the upside. After that, the instrument may grow towards the resistance at 5/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue its decline.
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.