S&P500, oil and platinum. Weekly review | 06 June 2014

S&P500


Monthly chart: we see a confident uptrend on this index. However, overboughtness has been achieved and the upper Bollinger band has approached, from where we can expect correction in the area of the middle band (1644.89).


S&P500, oil and platinum. Weekly review


Weekly chart:  an ascending front is also unconditional here with support based at 1891.00, from where purchases can be extracted if movement to 2000.00 is performed.


S&P500, oil and platinum. Weekly review


Day chart: the picture is the same. I do not recommend selling earlier than at 2000.00.


S&P500, oil and platinum. Weekly review


Conclusion: growth to 2000.00 and rollback to 1645.00 are expected. Brent oil Monthly chart: ADX is passive, the price is fluctuating within 101.69-116.14, which scarcely be broken.


S&P500, oil and platinum. Weekly review


Weekly chart:  an even more localized horizontal range 105.76-110.75. Bollinger envelopes demonstrate an easy round-in prior to a possible preparation for a trend's movement, but based on also passive ADX, it is unlikely to happen this week.


S&P500, oil and platinum. Weekly review


Day chart: support in the form of the middle Bollinger band  (109.04) has been achieved, from which price can go up to 111.02 (upper band).  Another option - is decline to bottom line (106.55).


S&P500, oil and platinum. Weekly review


Conclusion: main plan - is growth from current level to 111.02.  Another option - is break of support 109.04 and decline to 106.55, from where purchases will get promising again.


Platinum


Monthly chart: the price is moving around the middle Bollinger band  (1478.00), within frames of horizontal range 1301.94-1670.81. ADX is passive, it is flat.


S&P500, oil and platinum. Weekly review


Weekly chart:  here we see the similar picture, the bottom Bollinger band  confirmed its support at 1385.39 and demonstrates a general pitchup of the upper line (1479.48),


S&P500, oil and platinum. Weekly review


Day chart: one more significant support at 1422 (the bottom Bollinger band). Purchases with target1483.53 look rather promising.


S&P500, oil and platinum. Weekly review


Conclusion: so, we are waiting for a decline to 1422 and buy platinum at 1483.53.

Aleksey Panasenko
FreshForex Analyst
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