BRENT
In the H4 chart, there’s been a “false” breakout of 7/8. In this case, the asset is expected to correct downwards within the rising channel to reach the support at 5/8. However, this scenario may no longer be valid if the price breaks 7/8 to the upside. After that, the instrument may continue growing towards the resistance at 8/8.
As we can see in the M15 chart, the price has broken the downside line of the VoltyChannel indicator and, as a result, continue the descending tendency towards 5/8 from the H4 chart.
S&P 500
As we can see in the H4 chart, the Index is moving above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the asset is expected to continue growing towards the closest resistance at 7/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may correct downwards to reach the support at 5/8.
In the M15 chart, the price may break the upside line of the VoltyChannel indicator and, as a result, 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.