Weekly Review. S&P500, Brent, gold

S&P500


 


Monthly chart: finally, ADX is growing. Considering strong bullish pressure another wave of mid-term growth might be expected. Now we need to trace market reaction on weekly upper Bollinger band (2342.3)


Weekly Review. S&P500, Brent, gold


Weekly chart: here we have aggressive trending ADX, that means that level 2342.3 may be under strong pressure and may be broken.


Weekly Review. S&P500, Brent, gold


Daily chart: ADX is growing here too but it's not trending yet. That gives the opportunity of rollback towards middle Bollinger band (2284.2). It is, of course, not recommended to sell.


Weekly Review. S&P500, Brent, gold


Expectations: 2342.3 region attack (possibly following rollback to 2284.2 region)


Solutions: consider buying to 2342.3 (the best entry point is 2284.2)


Brent


Monthly chart: ADX's state is not clear, the cart is within broad flat corridor of 33.45-64.75. Such set-up is not favorable for trading.


Weekly Review. S&P500, Brent, gold


Weekly chart: here we can see upward pressure on levels 60.48 and 64.71. Bulls didn't manage to close market only in their favor. For now consider only buying.


Weekly Review. S&P500, Brent, gold


Daily chart: ADX is growing but not trending yet, so we may expect another rollback to support levels 55.72 and 54.34 (middle and lower Bollinger bands).


Weekly Review. S&P500, Brent, gold


Expectations:


Core scenario - rollback to 55.72 region and rise towards 60.48


Alternative scenario - direct rise towards 60.48 with no preliminary rollback


Solutions: consider buying towards 60.48 (the best entry point is 55.72)


Gold


Monthly chart: gold is inside upper Bollinger envelope, that promotes growth to 1364.11 (upper band). However, ADX is dropping, so there is no trend potential within this time frame.


Weekly Review. S&P500, Brent, gold


Weekly chart: there is similar situation but ADX is growing (although it didn't reach trend yet). Resistance level is around 1338.59 (upper Bollinger band).


Weekly Review. S&P500, Brent, gold


Daily chart: here ADX is active and trending but not growing yet. Upper Bollinger band breakout (1242.45) is needed to trigger bullish attack


Weekly Review. S&P500, Brent, gold


Expectations: 1242.45 region attack. In case of successful attack and breakout, further growth is possible. If not, we expect rollback towards 1215.13.


Solutions: consider buying to 1242.45 (the price may go higher but I suggest not to risk it)

Aleksey Panasenko
FreshForex Analyst
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