Weekly Review: S&P 500, Brent, Gold | 30 October 2015


S&P500


Monthly:a very active movement up continues, but ADX/RSI contradicts that, which is interpeted by the system as preparation of "bull trap". I'm waiting for a turn down after touching the upper Bollinger band (2166.3)



Weekly : similar picture - the upward movement takes place with a good momentum but with weak ADX. This is the last impulse of upward before reversal (or a very substantial correction)



daily Here we see how bulls take fuel from - bullish trend ADX, so the completion of the zone 2166.3 is very likely.



Expectations: rise to 2166.3 and then turn down.


solutions:


1) Purchases to 2166.3


2) Sales from 2166.3. Goal can be discussed in the review of the next week, because they can be very bold.


"Brent"


Monthly: So, we also see very good bearish arguments (confirming our common southern waiting) - a false breakdown of September IB up, as well as leaving of the lower Bollinger band under the mark of 32 dollars per barrel again. Since November we expectn an even more intense reduction to strategic goal 31.15 (January-March)



Weekly : local support is located at 41.61 area (Lower Bollinger Band)



daily: horizontal range of 46.38-53.01. However, we must be very careful with the medium-term trades because of the pressure of older frames. I recommend bulls not to be greedy with profit and fix it in case of doubt. Bears also have the opportunity to wait for a better point for sales



Expectations: a continuation of the flat in the corridor 46.38-53.01. We treat the flat as preparation for the fall in November


solutions:


1) Long-term sales we can keep open 2) In the area of 53.00 we can re-add sales. 3) Aggressive buyers can work in the channel 46.38-53.01


Gold


Monthly Gold is actively working on the IB upward but ADX casts doubt on the true potential of this bullish growth. We are waiting for test of strength in the area of important resistance 1219.0 (middle Bollinger Band).



Weekly: horizontal flat corridor 1079.87-1219.00. By overlapping this on the findings from the monthly chart, you can take a decision on sales from 1219.00 now



daily : local support around 1152.32 (the middle Bollinger Band), from where buyers are likely to develop the price to the next resistance levels - 1192.93 and 1219.00



Expectations: fall to 1152.43 and surge to 1192.93 and possibly to 1219.00


solutions:


1) Buy from1152.32 to 1192.93 and 1219.00


Aleksey Panasenko
FreshForex Analyst
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