S&P500, oil and platinum. Weekly review
Monthly chart: bulls continue to put a pressure, but in general uptrend looks like almost fully exhausted. Key resistance is based on 2050,7, from where reversal or a significant correction will take place with a high probability.
Weekly chart: oscillator's divergence confirms that reversal is close to come. Nevertheless, we are waiting for new highs to be reached before.
Day chart: divergence is also strong here, besides, resistance from the upper Bollinger band (1991.4) is still working. Support is based at 1956.6 ( bottom Bollinger band).
Conclusion: main scenario is descend from current levels to 1956.6 and a further growth to1991.4. Another option is the direct growth to 2050.7
Monthly chart: oil preserves horizontal channel 100.57-115.00.
Weekly chart: a more localized channel 105.36-111.87. Inside bar from the bottom Bollinger band does not allow bears to expect leave lower than at 105.36.
Day chart: we confirm a narrow range 105.36-111.87
Conclusion: growth from current levels to 111.87 and leave to correction down to 105.36.
Monthly chart: platinum is still based in flat range 1305.81-1630.89
Weekly chart: a more localized support is based at the bottom Bollinger band (1406.74), from where a potential for growth to 1509.10 will probably be found (the upper band).
Day chart: a gripe in the triangle spring between 1458.92 and 1513.76. Inside bar from the bottom band is seen, which ensures protection for the support 1458.92.
Conclusion: a direct growth from Open to 1513.76 and return down further to touching it.
Aleksey PanasenkoAnalyst of «FreshForex» company
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