By RoboForex.com
Brent
H4 shows that the quotes are at or above the 200 day Moving Average. This is a sign of an uptrend. The resistance line was broken by the RSI. The RSI has broken through the resistance line and is expected to move above 8/8 (87.50), before reaching the resistance level of +2/8 (90.62). A downward breakout of the support level 7/8 (85.94) can cancel this scenario. The quotations may fall to 5/8 (82.81).
The upper VoltyChannel line is broken off at M15. This confirms that there is an uptrend and increases the chance of more growth.
S&P 500
The H4 quotes are higher than the 200-day Moving Average. This indicates that there is an uptrend. The RSI has shown a divergence, which is a sign that a correction should be initiated. Therefore, expect a bounce of 4/8 (4062.5) and then a fall from the support level at 2/8 (3906). A breakaway from the resistance level can cancel out this scenario. The quotes could continue growing to reach 5/8 (4141.6).
A breakaway from the VoltyChannel’s lower border will also be confirmed by M15.
Article by RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be…
