Weekly review: S&P500, Brent, Gold
Monthly chart: If bullish momentum will break through the barrier 2112.3 is the main intrigue and question right now. The ADX behaves mysteriously, being close to the trendline area, but does not show a direct interest in what the happening.Weekly chart: The outcome is very close. If 2112.3 will be broken up, the direct prospect is the reach 2159.6 (the upper Bollinger band).Daily chart: Local pressing within the upper Bollinger envelope with the corridor 2074.7-2112.3.Expectations: The main scenario is the flat in the corridor 2074.7-2112.3 The alternative scenario is the breakthrough from 2112.3 to 2159.6.
Trading solutions: We consider purchases in the zone 2074.7 (in the cases of formed signals on the daily chart).
Monthly chart: The middle Bollinger band significantly dropped to 55.89, and now the correctional potential is limited by this level.
Weekly chart: The trend potential for a breakthrough of the level 55.89 is saved. But it may turn out to be a bull trap, you have to be careful with the purchases.Daily chart: Noticeable signs of weakening of bull front is a bearish oscillator divergence. Local resistance is concentrated at the level of 52.17 (the upper Bollinger band).Expectations: The main scenario: Growth to 52.17 and then an intensive decline to 48.41 and target to 44.85. Alternative scenario: Growth to 55.89.
Trading solutions: Look for sales in the area 52.17 (in the case of forming of short signals in the daily chart or on the smaller ones).
The situation is twofold, as since the ADX is close to the active trend zone and a pivot may appear at any time. While limiting factor is the resistance 1297.06 (the upper Bollinger band).
Weekly chart: We can see a local bearish pattern Over&Under in the area 1297.06. Thus, the main expectation will be sales in the direction to 1097.22 (in the middle term).
Daily chart: The same situation. Strong bullish momentum shall not scare on confuse — the ADX does not believe in buyers’ potential.
Expectations: So. Wait for the beginning of gold drop, but it is approximately possible to touch the zone 1297.06, from where we should sell. Trading solutions: Sales from 1297.06 to 1097.22 in the middle term.
Aleksey PanasenkoAnalyst of «FreshForex» company
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