Weekly review: S&P500, Brent, Gold | 10 June 2016

S&P500


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 review: S&P500, Brent, GoldWeekly 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).Weekly review: S&P500, Brent, GoldDaily chart: Local pressing within the upper Bollinger envelope with the corridor 2074.7-2112.3.Weekly review: S&P500, Brent, GoldExpectations: 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).


Brent


Monthly chart: The middle Bollinger band significantly dropped to 55.89, and now the correctional potential is limited by this level.


Weekly review: S&P500, Brent, GoldWeekly 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.Weekly review: S&P500, Brent, GoldDaily 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).Weekly review: S&P500, Brent, GoldExpectations: 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).


Gold


Monthly chart:


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 review: S&P500, Brent, Gold


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).Weekly review: S&P500, Brent, Gold


Daily chart: The same situation. Strong bullish momentum shall not scare on confuse — the ADX does not believe in buyers’ potential.


Weekly review: S&P500, Brent, GoldExpectations: 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 Panasenko
FreshForex Analyst
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