Weekly Review. S&P500, Brent, gold


S&P500


Monthly review: index keeps looking for new highs while ADX reverses smoothly. It can cause both a new rapid upshift and reversal (if oscillator refuses to confirm new price high)


Weekly Review. S&P500, Brent, gold


Weekly chart: here ADX/RSI shows correction. Resistance level is focused on upper Bollinger band (2282.8). Support level is 2186.7 (middle band), if the pair declines to this level the downturn tendency will be confirmed.


Weekly Review. S&P500, Brent, gold


Daily chart: 2287.5 resistance level is confirmed. If this level shows bearish potential, there will appear substantial background for Over&Under reversal pattern shaping


Weekly Review. S&P500, Brent, gold


Expectations: well, in spite of the threatening upward breakout, I'm leaning towards rollback down from 2287.5 towards 2231.3


Solutions: sell from 2287.5 to 2231.3. It is recommended to wait for confirming signals on minor charts.


Brent


Monthly chart: ADX is in flat, so the main expectation is continuing price fluctuations within middle Bollinger band area (50.00)


Weekly Review. S&P500, Brent, gold


Weekly chart: as you can see here, ADX is in trend, so price growth towards 66.80 is possible. Under such scenario preliminary rollback to middle Bollinger band (50.00) is possible


Weekly Review. S&P500, Brent, gold


Daily chart: here ADX is very active too. Upmovement scenarios are going to prevail this week. Support level for buyers is much more localized - 55.60 (middle Bollinger band).


Weekly Review. S&P500, Brent, gold


Expectations: growth to 58.47, as a rehearsal for further shift towards 66.80. Preliminary rollback to 55.60 is possible


Solutions: buy towards 58.47 and 66.80 (in mid-terms). The best solution is to buy in 55.60


Gold


Monthly chart: ADX has trend nature, so it is likely that the pair is going to continue declining towards lower Bollinger band (1026.03, see red arrow). If bulls manage to go higher than middle band (1190.30), upshift to 1364.11 (upper band, see blue arrow) will ne possible


Weekly Review. S&P500, Brent, gold


Weekly chart: there is bullish Over&Under pattern in 1090.00. Resistance level is localized in 1252.28 (middle Bollinger band).


Weekly Review. S&P500, Brent, gold


Daily chart: here a nice bearish inside bar allows to sell gold from current levels with stops in 1190.30 expecting decline to 1118.97 and 1190.00


Weekly Review. S&P500, Brent, gold


Expectations: decline to 1118.97 and 1090.00


Solutions: sell towards 1118.97 and 1090.00


Aleksey Panasenko
FreshForex Analyst
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