BRENT
On H4, Brent quotes are under the 200-day Moving Average, which indicates a downtrend. The RSI has broken through the descending trendline. In this situation, further falling to the support level of 1/8 (78.12) is expected. The scenario can be cancelled by an upwards breakaway of the resistance level of 3/8 (84.38), which might lead to a trend reversal and growth to the resistance level of 4/8 (87.50).
On M15, the lower line of VoltyChannel is broken away, which confirms a downtrend and increases the probability of further price falling.
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 have dropped under the 200-day Moving Average, indicating the prevalence of a downtrend. The RSI has broken through the support level downwards. As a result, further falling of the quotes to 0/8 (3750.0) is expected. The scenario can be cancelled by rising over the resistance level of 2/8 (4062.5). This might lead to a trend reversal and growth to 3/8 (4218.8).
On M15, the lower line of VoltyChannel is broken away, which increases the probability of further price falling.
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.
- Bitcoin price is approaching 100,000. Natural gas prices rise due to declining inventories and cold weather Nov 22, 2024
- USD/JPY Awaits Potential Stimulus Impact Nov 22, 2024
- RBNZ may cut the rate by 0.75% next week. NVDA report did not meet investors’ expectations Nov 21, 2024
- NZD/USD Under Pressure Amidst USD Strength Nov 21, 2024
- USDJPY bulls venture into intervention zone Nov 20, 2024
- The PBoC kept interest rates. The escalating war between Ukraine and Russia is negatively affecting investor sentiment Nov 20, 2024
- AUD/USD Consolidates After Recent Gains Nov 20, 2024
- The RBA will maintain a restrictive monetary policy until the end of the year. Nov 19, 2024
- Safe-haven assets rally on nuclear concerns Nov 19, 2024
- Gold Rebounds Amid USD Weakness and Geopolitical Uncertainties Nov 19, 2024