Report on oil, silver, S&P500
Monthly chart: reversal is suspended at least by the time of this month. Bollinger is aspiring upwards in the direction of 2049 and we cannot anticipate that bulls would wear out earlier. Active ADX confirms that.
Weekly chart: market is still overbought, therefore, once the point of 2049 is reached, we can have an eye for reversal signals.
Day chart: first divergences as the sign proving our thoughts about soon completion of uptrend.
Conclusion: growth to 2049 and roll down to 1957.
Monthly chart: accumulation within a horizontal range 101.12-115.44. Envelopes are getting narrow gradually, but ADX is far from an active area, thus, leaving specified boundaries by price is slightly probable.
Weekly chart: a very active workout of bearish Inside Bar made from the upper Bollinger band, but in a flat range. A local support is based at 106.06. Thus, we do not expect a downward movement of trend.
Day chart: one more support is based at 108.21, while resistance is at 111.87
Conclusion: decline to 108.21, roll up to 111.87 and a new decline to106.06.
Monthly chart: still flat is based in 1305.81-1638.60
Weekly chart: a considerable resistance can be met at 1554.20, т.к. ADX is not ready for breakthrough yet.
Day chart: support is based at 1467.41 ( the middle Bollinger band)
Conclusion: touching the area of 1467.41 and growth to 1554.20. Another option is growth to 1638 (in case 1554.20 is broken).
Analyst of «FreshForex» company
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