Article By RoboForex.com
BRENT
On H4, Brent quotes have bounced off the 200-days Moving Average and are trading above it, indicating the end of the correction and the continuation of the uptrend. A test of 7/8 is to be expected, followed by a breakaway and growth to the resistance level of 8/8. The scenario can be cancelled by a breakaway of the support level at 6/8 downwards. In this case, the quotes can return to 5/8.
On M15, growth can be additionally confirmed by a breakaway upwards of the upper line of VoltyChannel.
Free Reports:
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
S&P 500
On H4, the quotes rest in the overbought area. A test of 0/8 is expected, followed by a breakaway and growth to the resistance level of 2/8. The scenario can be cancelled by a breakaway of the support at -1/8 downwards. This might entail further falling to -2/8.
On M15, a breakaway of the upper line of VoltyChannel will increase the probability of price growth.
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
- The Dollar Index strengthened on Powell’s comments. The Bank of Mexico cut the rate to 10.25% Nov 15, 2024
- EURUSD Faces Decline as Fed Signals Firm Stance Nov 15, 2024
- Gold Falls for the Fifth Consecutive Trading Session Nov 14, 2024
- Profit-taking is observed on stock indices. The data on wages in Australia haven’t met expectations Nov 13, 2024
- USD/JPY at a Three-Month Peak: No One Opposes the US Dollar Nov 13, 2024
- Can Chinese Tech earnings offer relief for Chinese stock indexes? Nov 13, 2024
- Bitcoin hits an all-time high above $88,000. Oil remains under pressure Nov 12, 2024
- Brent Crude Stumbles as Market Sentiments Turn Cautious Nov 12, 2024
- Bitcoin hits new record high just shy of $82,000! Nov 11, 2024
- The Dow Jones broke the 44 000 mark, and the S&P 500 topped 6 000 for the first time. The deflationary scenario continues in China Nov 11, 2024
