BRENT
On H4, the quotes are under the 200-day Moving Average, which indicates prevalence of a downtrend. The RSI has exited the overbought area. A test of 2/8 (81.25) should be expected, followed by a breakaway and falling to the support level of 1/8 (78.12). 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 price growth to the resistance level of 4/8 (87.50).
On M15, the lower line of VoltyChannel is broken away, which confirms the downtrend and increases the chances for 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.
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
On H4, the quotes have bounced off 0/8 (3750.0), which is the upper border of the oversold area. The RSI is testing the resistance line. The quotes are expected to rise above 1/8 (3906.2) and then reach the resistance level of 2/8 (4062.5). The scenario can be cancelled by a downward breakaway of the support level of 0/8 (3750.0). In this case, the S&P 500 index will continue falling, and the quotes might reach -1/8 (3593.8).
On M15, an additional signal confirming growth will be a breakaway of the upper border of VoltyChannel.
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.
- Fast fashion may seem cheap, but it’s taking a costly toll on the planet − and on millions of young customers Nov 25, 2024
- “Trump trades” and geopolitics are the key factors driving market activity Nov 25, 2024
- EUR/USD Amid Slowing European Economy Nov 25, 2024
- COT Metals Charts: Weekly Speculator Changes led by Platinum Nov 23, 2024
- COT Bonds Charts: Speculator Bets led lower by 5-Year & 10-Year Bonds Nov 23, 2024
- COT Soft Commodities Charts: Speculator Bets led lower by Soybean Oil, Soybean Meal & Cotton Nov 23, 2024
- COT Stock Market Charts: Speculator Changes led by S&P500 & Nasdaq Minis Nov 23, 2024
- 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
