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S&P500, gold, Brent: weekly review


S&P500


The monthly chart: September was closed by the inside bar and bulls during the first day of October corrected index almost by half of September range. In this case we witness ADX/RSI ration, so growth looks like only corrective. The options are either turning down a new inside bar at the end of the month, or intensive drop after the upward correction, which probable depth we will try to define on the younger chart.


S&P500, gold, Brent: weekly review


The weekly chart: around 1987.7 there is a zone of 50% bearish pinbar, where there may be break-even Stop orders sellers. The market may take the opportunity to "throw the extra passengers" before the main phase of the drop.


S&P500, gold, Brent: weekly review


The daily chart: stable envelopes and weak ADX tell about the fact that in the area of ​​the upper Bollinger band (1987.7) there will be a strong resistance. Local goal of decline - support from the lower band (1887.5)


S&P500, gold, Brent: weekly review


Expectations: touch of 1987.7 and then decline to 1887.5


Trade solutions: sales from 1987.7 to 1887.5


"Brent"


The month chart: sensation from the lower Bollinger band! New strong deepening now - to 31.20, almost $3 less per barrel than we imagined a month ago. The price of oil entails a large political component, but the chart is categorical: a further fall! 


S&P500, gold, Brent: weekly review


The weekly chart: local support - in the area of ​​the lower Bollinger band (41.86)


S&P500, gold, Brent: weekly review


The daily chart: this week we expect the range of 47.12-50.58 flat. Selling from 50.58, you can take profit in almost 300 points by Friday.


S&P500, gold, Brent: weekly review


Expectations: touch of 50.58, and then falling to 47.12


Trade solutions: sell from 50.58 to 47.12 (or in medium-term we are to keep sales to 31.20!)


Gold


The month chart: huge spring tensioned in two consecutive reducing inside bars! Where it shoot exactly - is difficult to say, because the Bollinger envelopes are stable. You would think that in October we will bring another IB, but look at ADX - is conveys aggression! If bears lose their resistance from the middle band (1219), there is a serious threat to growth to the upper band (1354.82). In the meantime, we stick to bearish expectations to 1079.87 and the medium-term objective below 1000.00


S&P500, gold, Brent: weekly review


The weekly chart: ADX is weak, so it is likely that bulls will not be able to break above the middle band (1152.32). Otherwise - will be initiated the movement towards 1219.00


S&P500, gold, Brent: weekly review


The daily chart: weak ADX plus horizontal envelopes. We are waiting for resistance at 1152.32 and drop to the bottom line (1098.78)


S&P500, gold, Brent: weekly review


Expectations: touch of 1152.32 and then decline to 1098.78


Trade solutions: sales from 1152.32 to 1098.78


Aleksey Panasenko
FreshForex Analyst
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