S&P500, oil and platinum. Weekly review
Monthly chart: here we still have a rather confident growth in the direction of 2000.00, from where a descending correction to 1.644 ( the middle Bollinger band) will supposedly begin.
Weekly chart: an uptrend is in the correction phase. Support is based in the area 1648.00
Day chart: Here we see a confident gradual growth
Conclusion: so, we are still waiting for growth of the index with the target at 2000.00 Brent oil Monthly chart: oil is still based in the range 100.98-115.14.
Weekly chart: a flat condition is better expressed here: 106.36-110.52.
Day chart: support is based at the bottom band (107.21), from where the price can move to resistance at 110.52
Conclusion: touch of the area 107.21 and growth th 110.52.
Monthly chart: platinum is moving around the axis formed from the middle Bollinger band (1450.43). ADX figure is telling that distribution won't take place today.
Weekly chart: ADX here is passive as well, but we see Northern preparation: range and envelopes are narrowing. Triangle with pin from buyers tells for it too.
Day chart: as wee see, the point chosen by us to enter purchases, turns out to be the perfect one. We are waiting for upward movement to the upper band (1488.77).
Conclusion: we expect that trades will be based between support 1423.25 and resistance 1488.77.
Aleksey PanasenkoAnalyst of «FreshForex» company
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