Weekly Review. S& P500, oil, gold

Monthly chart: index is agressive but ADX treats this behavior as non-trending amid well-known news drivers. It is highly likely that it will stop moving on the upper Billinger band (2225.4), from where correction or even complete reversal might occur.


Weekly Review. S& P500, oil, gold


Weekly chart: there is a simular situation: strong growth and weak and corrective ADX. Resistance range - 2215.6-2225.4.


Weekly Review. S& P500, oil, gold


Daily chart: the only frame where bulls have trend support. The upper Bollinger band is higher than day line at 2235.9, which is the current goal.


Weekly Review. S& P500, oil, gold


Expectations: wait for growth to 2225.4-2235.9 and then correction in direction of 2154.5


Solutions:


1. Buy in the range of 225.4-2235.9


2. Sell in 2235.9 in the direction of 2154.5


"Brent"


Monthly chart: horizontal flat of oil continues in the range of middle Bollinger band (50.05). Obviously political and speculative components of pricing dominate over economical (fundamental). This is confirmed by the survey indicators. Markets are waiting for actions of major players.


Weekly Review. S& P500, oil, gold


Weekly chart: flat corridor is in the range of Bollinger envelopes (43.42-53.25). There are also no signs of trend.


Weekly Review. S& P500, oil, gold


Daily chart: let's look at more localized range 44.29-51.34. Now the price moves within the triangle, which opens the possibilities for downward trades to support levels of 47.72 and 44.29 (middle and lower Bollinger bands)


Weekly Review. S& P500, oil, gold


Expectations: drop to 47.72 and 44.29


Solutions: sell at 47.72 and 44.29


Gold


Monthly chart: bears make attack at middle Bollinger band (1205.11), if they succeed they will cause further drop to 1035.43 (lower Bollinger band).


Weekly Review. S& P500, oil, gold


Weekly chart: there is a strong breakthrough of lower envelope while ADX is weak, moreover, gold is alredy three bars beyond Bollinger bands - it is a sign of correction. That's why rollback to 1301.45 (middle Bollinger band) is possible.


Weekly Review. S& P500, oil, gold


Daily chart: local resistance level is 1246,76 and support level is 1167,22. The instrument is locally overbought but ADX is strong, so consider further sells.


Weekly Review. S& P500, oil, gold


Expectations:


Core scenario - drop to 1167.22, and then breakthrough towards 1092.00


Alternative scenario - correction towards 1246.76.


Solutions: sell at 1167.22 and 1092.00

Aleksey Panasenko
Analyst of «FreshForex» company
Aleksey Panasenko
FreshForex Analyst
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