Article Author RoboForex.com

BRENT

As we can see on the H4 chart, Brent is trading below its 200-day moving average, indicating a possible downtrend. The relative strength index bounced off the downward trend line; it is still moving down. In this case, the pair is expected to continue falling to support at 4/8 (87.50). However, this scenario can be reversed if the price breaks through the resistance at 5/8 (90.62) towards growth. After that, the tool can move up to reach 6/8 (93.75).


Risk Warning: The results of previous trading operations do not guarantee the same results in the future

On the M15 chart, the pair can break through the lower line of the VoltyChannel indicator and, as a result, continue its decline.

BRENT_M15


Risk Warning: The results of previous trading operations do not guarantee the same results in the future

S&P 500

On the H4 chart, the S&P 500 has reached an “oversold zone.” The relative strength index tests 30, confirming that the asset is oversold. In this case, a price rebound is expected 0/8 (3750.0) and resume upward movement to reach resistance at 1/8 (3906.2). However, this scenario may no longer be true if the price breaks through the support 0/8 (3770.0) to the downside. After that, the tool can continue to fall sideways -1/8 (3595.8).

S&P 500_H4


Risk Warning: The results of previous trading operations do not guarantee the same results in the future

As we can see on the M15 chart, the rising line of the VoltyChannel indicator is quite far from the price, so the pair can resume trading upwards only after a bounce from 0/8 in chart H4.

S&P 500_M15

Article Author RoboForex.com

Attention!
The forecasts presented in this section reflect the author’s personal opinion only and should not be considered as a trading guide. RoboForex LP is not responsible for the trading results based on the trading recommendations described in these analytical reviews.

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