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"Trend Potential" weekly report

S&P500


Monthly chart: Growth “at bay” is going on. The upper Bollinger band is based at 2180.1, which is by today the maximum possible goal of the upward movement before reversal.


Trend potential Forecast


Weekly chart:  Resistance is even better expressed at 2123.9 (the upper Bollinger band. Support is based at 2009.4 (the bottom Bollinger band).


Trend potential Forecast


Day chart:  One more point of  resistance - 2114.2 as ADX is passive. It allows to sell from 2114.2-2123.9 to target 2039.5


Trend potential Forecast


Expectations: So, we are waiting when 2114.2-2123.9 is touched and a further decline to 2039.5 .


Trading decisions:


1) We hold Buy opened to 2114.2-2123.9 2)  We sell from 2114.2-2123.9 to target 2039.5


"Brent" oil


Monthly chart: As we told before, now oil needs a full upward swing to drop further. Now we are witnessing the attempts to draft this swing in full (for that, price must get just a little above March High). A middle-term target of decline is now based at 44.74


Trend potential Forecast


Weekly chart: The price has almost hit key resistance - the middle Bollinger band (61.38). Another option is that Brent will drop from this area either correction will break this resistance through and we will see a new growth of quotations to 76.92. At this point, the price will meed an abundant supply and collapse (blue arrow)


Trend potential Forecast


Day chart: A local range is very passive, so a breakthrough 61.38 is less probable. Support for the weekly run is located at 53.90


Trend potential Forecast


Expectations:  So, we expect a descending flat with target 53.90. Before that, the point 61.38 may be hit. .


Trading decisions:


 If the price grows on Opening, we sell from 61.38 to target 53.90 and the middle-term target 44.74 .


Gold


Monthly chart: Meanwhile, a gradual recovery of the gold inside Bollinger envelopes is going on.


Trend potential Forecast


Weekly chart:  Resistance is represented by current levels 1213.98, the middle Bollinger band and 1286.47, the upper Bollinger band.


Trend potential Forecast


Day chart: Local resistance is based on 1225.87, support - 1186.73 .


Trend potential Forecast


Expectations:  Growth to 1225.87 and decline to 1186.73


Trading decisions:


1) We hold Buy opened to 1225.87 .


2)We sell from 1225.87 and 1186.73 (if there are short signals in the area 1225) .

Aleksey Panasenko
FreshForex Analyst
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