Weekly Review. S&P500, Brent, Gold | 01 July 2016


S&P500


Monthly: the index is steadily dropping to the bottom Bollinger band (1928.3). Local support is around the middle band (2031.1) may slightly delay the chart, because drop does not have signs of trend.



Weekly: a similar situation. ADX/RSI has a corrective status, so a deeper decline to 1928.3 and delay at 2031.1 are equally probable. At the same time, bearish front has a little more chances, because the upper Bollinger band has not been reached yet, thereby having confirmed a flat.



Daily chart: At the locally level, the lower Bollinger envelope was knocked, which is a strong Southern signal. We expect a return to the middle Bollinger band (2090.4), whereupon we should sell to 1928.3.



Expectations: a rollback to 2090.4 followed by a drop to 1928.3


Solutions: sell from 2090.4 to 1928.3


"Brent"


Monthly: everything points to formation of the monthly pinbar from the middle Bollinger band, which in turn can lead to a new phase of the medium-term decline towards the lower Bollinger band (26.68)



Weekly: ADX/RSI has a corrective status.Oil may delay on the support points from the middle (42.73) and lower (31.14) Bollinger bands.



Daily chart: we also have the starting conditions for an attack of bears. On breakout of the lower envelope, we will "catch" downward entry options on the middle band (50.21).



Expectations: decline towards 42.73. Start of this decline can be delayed for another week (before close of the June bar).


Solutions: waiting for our chances to get the downward entry options. The best possible area for it is 50.21.


Gold


Monthly : a good bullish potential probably, against "flight" of investors after Brexit. Goals are not known yet, but in the near and medium term it may be 1550.00-1574.25 - ADX is charged!



Weekly:we also have the northern trend potential, which will be activated after breakout of resistance 1316.58



Daily chart: another pullback to the middle band (1254.50) is possible, but is not necessary. We are looking for the upward entry options.



Expectations: so, we can expect a substantial surge of gold prices. We are looking for the chance to "take off" in the area of ​​1254.50 (if we're lucky enough).


Solutions: looking for the options for Buy trades. Targets can be very brave and we can discuss them in the next review.


Aleksey Panasenko
FreshForex Analyst
Agree with the review?
Traders' opinion:

Close
Login
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .