Weekly Review. S&P500, Brent, gold | 03 March 2017

S&P500


 


Monthly chart: index approaches new local high on week upper Bollinger band (2384.5). ADX is edging. That can indicate either preparation for new strong mid-term upward shot or reversal preparation. Trend scenario has an obvious advantage over reversal one.


Weekly Review. S&P500, Brent, gold


Weekly chart: here we see resistance level at 2384.5. However, it's worth mentioning that both indicators (RSI/ADX) are at their extremes, so we may expect correction.


Weekly Review. S&P500, Brent, gold


Daily chart: here we have similar situation: rise along with trending ADX but against heavily overbought chart.


Weekly Review. S&P500, Brent, gold


Expectations: breakout of 2384.5 followed by possible downside correction. However, we may also expect impulsive shot higher to the upside. That will make entry points search for selling difficult.


Solutions:


1. Consider buying to 2384.5


2. Consider selling from 2384.5 (only if there will be strong local signals at 2384.5)


Brent


Monthly chart: flat around middle Bollinger band (49.21) continues within broad range of 33.46-64.71 (Bollinger envelopes)


Weekly Review. S&P500, Brent, gold


Weekly chart: here we have slightly chopped but rising structure within upper Bollinger envelope range (53.25-60.49)


Weekly Review. S&P500, Brent, gold


Daily chart: here we have stable Bollinger envelopes inside flat corridor of 55.00-57.05. That'll be enough for the price to remain here this week.


Weekly Review. S&P500, Brent, gold


Expectations: flat continuation in corridor of 55.00-57.05


Solutions: trading within 55.00-57.05


Gold


Monthly chart: bulls have forced the price to upper Bollinger envelope quite aggressively and keep pushing it towards upper Bollinger band (1364.11). However, ADX is corrective, so we have no reasons to expect direct shot, the market is rather flat.


Weekly Review. S&P500, Brent, gold


Weekly chart: there is strong local bullish pressure but also a very strong resistance level around 1314.43 (upper Bollinger band), from there the price is likely to significantly bounce down.


Weekly Review. S&P500, Brent, gold


Daily chart: here the price rises against the background of active ADX. We expect breakout of 1314.43!


Weekly Review. S&P500, Brent, gold


Expectations: gold quotes increase towards 1314.43.


Solutions:


1. Consider buying to 1314.43


2. Consider selling from 1314.43


Пополнение без комиссий в компании FreshForex

Aleksey Panasenko
FreshForex Analyst
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