Weekly Review. S&P500, Brent, gold | 07 April 2017

S&P500


 


Monthly chart:bulls are giving ground considering the results of March closing. We already have upper Bollinger envelope breakout, so we may expect drop towards middle Bollinger band (2118.3)


Weekly Review. S&P500, Brent, gold


Weekly chart: upper Bollinger band (2427.6) is likely to be tested. From there we may consider selling to 2279.6 (middle Bollinger band)


Weekly Review. S&P500, Brent, gold


Daily chart: here we are observing flat area of 2339.6-2392.6 (Bollinger envelopes range). The price is not likely to leave this area during the week.


Weekly Review. S&P500, Brent, gold


Expectations:


Core scenario - flat at 2339.6-2392.6


Alternative scenario - shot to 2427.6 followed by drop.


Trading signals: look for entry points to the downside at resistance levels of 2392.6 and 2427.6


Brent


Monthly chart: the price keeps walking on middle Bollinger band (48.79) inside of broad flat corridor of 34.97-62.61.


Weekly Review. S&P500, Brent, gold


Weekly chart: there is more narrow flat corridor of 46.57-60.92 (Bollinger envelopes range). ADX shows weak trend, so the price is not likely to leave flat soon.


Weekly Review. S&P500, Brent, gold


Daily chart: there is a strong resistance level at 56.06 (upper Bollinger band). Bulls are pushing ADX up but from the technical point of view this level is likely to have high bearish oil supply.


Weekly Review. S&P500, Brent, gold


Expectations: rise to 56.06 followed by great drop.


Trading signals:


1. Consider buying to 56.06


2. Consider selling from 56.06


Gold


Monthly chart: the price keeps rotating around middle Bollinger band (1204.58). ADX shows correction and no trend.


Weekly Review. S&P500, Brent, gold


Weekly chart: there is a strong resistance level in upper Bollinger band region (1287.97). However, considering ADX pressure there is a chance of touching 1338.00 area (see purple arrow)


Weekly Review. S&P500, Brent, gold


Daily chart: here ADX shows very weak trend, so there is a question if bulls will be able to climb higher than 1266.46 (upper Bollinger band). There is a flat area of 1194.55-1266.46.


Weekly Review. S&P500, Brent, gold


Expectations:


Core scenario - we expect the price to touch 1266.46 and then drop to 1230.20 area


Alternative scenario - shot to 1298.00


Trading signals:


1. Consider buying to 1266.46


2. Consider selling from 1266.46 (in case of short-signals in this area)


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Aleksey Panasenko
FreshForex Analyst
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