Brent
Brent quotes have broken the 200-day Moving Average on H4 and are now above it, indicating a probable development of an uptrend. The RSI has rebounded from the support line. In this situation, further growth to the resistance level of 6/8 (78.12) is to be expected. The scenario can be cancelled by a downward breakout of 4/8 (75.00). In this case, the quotes could drop to the support of 3/8 (73.44).
On M15, the upper line of the VoltyChannel is broken, which increases the probability of a rise to 6/8 (78.12) on H4.
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.
Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter
S&P 500
S&P 500 quotes remain in the overbought area on H4. The RSI is testing the resistance line. In this situation, a test of 8/8 (4375.0) is expected, followed by a breakout and a drop to the support at 7/8 (4296.9). The scenario can be cancelled by a rise above the resistance level of +1/8 (4453.1). In this case, the quotes could continue growing and reach +2/8 (4531.2).
On M15, the lower line of the VoltyChannel is broken, which increases the probability of a price decline.
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
