Weekly Review. S&P 500, Brent, Gold
Monthly: Bulls will close February more or less successfully, but I can not help feeling that the index is still dropping, cause ADX is getting more active.
Weekly: resistance from the middle Bollinger band (1996.7) 1839.1 support (the bottom band).
Daily chart: an evident bearish pinbar from the upper Bollinger band - it is a good sell signal to the bottom line (1839.1)
Expectations: drop from current levels to 1839.1
solutions: sell to 1839.1
Monthly: February is likely to be closed by the inside bar, but this is similar to a bullish trap again - the bottom Bollinger band votes for the medium-term scenario of drop to 18.47.
Weekly: the price may touch resistance 40.04 (the middle Bollinger band) zone, from where the oil is likely to hit the bottom band (26.55)
Daily chart: an evident bearish pinbar from the upper Bollinger band - signal for drop to 31.10 (the bottom Bollinger band).
Expectations: drop from current levels to 31.10
solutions: sell to 31.10.
Monthly: markets still target the upper Bollinger band (1322.62)
Weekly: the last week was not very successful for buyers (false breakdown of inside bar with a rebound off the upper Bollinger band), but the overall focus on 1322.62 remains relevant within this frame
Daily chart: local resistance is at 1273.44 (upper Bollinger band).Support is at1197.06 (the middle Bollinger band).
Expectations: growth to 1273.44 and then a downward correction.
solutions: Buy to 1273.44.
Aleksey PanasenkoAnalyst of «FreshForex» company
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