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Gold, oil and S&P500 this week


Monthly chart: the index is based in the least successful location for Opening which is in the middle of the range of the upper envelope (1888.6-2177.9). Upon that, a general ascending dynamics is preserved, so you can search for long signals from the support 1888.6 on yonger charts.

Trend potential Forecast

Weekly chart: a serious divirgence will probably make the chart to correct below to 1888.6. Local resistance is - 2119.6 (the upper Bollinger band) , support - 1990.1 (the bottom band)

Trend potential Forecast

Day chart: Southern determination starts to be better shaped

Trend potential Forecast

Expectations:  so, we are considering lowering of the index to support lines 1990.1 and 1888.6, but only as correction towards a major ascending trend. 

Trading decisions in the middle run:

1) We sell to targets 1990.1 and 1888.6

2) Buying from 1888.6 to new Highs

"Brent" oil

Monthly chart: so, everything moves to formation of March Inside bar which confirms threat of decline to 42.05 In April-May. 

Trend potential Forecast

Weekly chart:  local resistance 62.76 (the middle Bollinger band) is the potential location for opening sales.

Trend potential Forecast

Day chart:  we confirm resistance at 62.76 .

Trend potential Forecast

Expectations:I am waiting when Inside Bar for the current month will be eventually formed which can push oil to 62.76. On this level it can face supply at this price and 2 month's slump to 42.05 may start. 

Trading decisions:

1) Local buying to 62.76.

2) Sales from 62.76 to 42.05


Monthly chart: support from the bottom Bollinger band (1141.06) is reliable now. But in general tendency is descending in the direction of 1032.24

Trend potential Forecast

Weekly chart: resistance at 1288.40 is quite strong (the upper Bollinger band)

Trend potential Forecast

Day chart: resistance is well expressed on the level of 1218.19 (the upper Bollinger band). 

Trend potential Forecast

Expectations: So, I would wait when gold will drop from 1218.19 to 1141.06

Trading decisions:

1) Sales from 1218.19 to 1141.06 .

Aleksey Panasenko
FreshForex Analyst
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