Weekly review of S&P500, gold and oil
Monthly chart: we had been anticipating this decline and now the index may drop down to the middle Bollinger band (1948.0)
Weekly chart: the pair is squeezed 2048.7 and 2134.6. ADX is passive and so this week we don't wait it under 048.7.
Day chart: Since bears work here, a new decline is probable from the middle Bollinger band (2101.4) to 2048.7
Expectations: touch of 2101.4 and decline to 2048.7
1) Sales from zone 2101.4 to 2048.7
Monthly chart: Bears are moving May's range down proving our expectations of a decline to 45.68 (the bottom Bollinger band )
Weekly chart: Since ADX is not enough, a strong support is expected in the bottom Bollinger band (54.29)
Day chart: return is probable to the middle Bollinger band (64.18)
Expectations: decline to 54.29. In case of a preliminary upward movement to 64.18 — we shall add Sell order.
1) Keep sales open.
2) We shall open news sales in 64.18
Monthly chart: a middle-term flat continues in the bottom Bollinger envelope with a notable pressure down to 1138.24
Weekly chart: envelopes are narrowed anticipating volatility. Weak ADX allows to wait movement not earlier than the next weeks.
Day chart dense support area 1155.42-1167.22, so flat is probable to continue.
Expectations: flat with a pressure down and a strong support area 1155.42-1167.22.
Aleksey PanasenkoAnalyst of «FreshForex» company
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