Weekly review of S&P500, oil and gold | 18 September 2015

Month chart:consolidation on the background of a strong correction in August. There are signs that this correction is not exhausted. As early as next month, the index will be glad to support the lower Bollinger band (1796.0)


Weekly review of S&P500,  oil and gold


Week chart: the perfect place for the opening of Sell trade - the middle Bollinger band (2074.6)


Weekly review of S&P500,  oil and gold


The daily chart: more localized resistance at 1984.9. It is possible that decline will occur from this zone. Local support - 1849.4 (lower Bollinger band)..


Weekly review of S&P500,  oil and gold


Expectations: So, we have two resistance points, from every of which you can expect a new downward movement to 1849.4: either 1984.9, or 2074.6


Trade solutions:


1) Sell to 1849.4. Look for Sell signals in areas 1984.9 or 2074.6.


"Brent"


Month chart: the lower Bollinger band stubbornly vote for the continuation of the fall of oil to 33.72.


Weekly review of S&P500,  oil and gold


Week chart: not too intense start of a bearish pinbar, but we note extension of the envelope and the activity of ADX, that is a sign of a more active decline.


Weekly review of S&P500,  oil and gold


The daily chart: envelope have horizontal status, so we wait for strong support at the lower band (43.40), from which again may correct Brent to 48.51 (middle Bollinger band).


Weekly review of S&P500,  oil and gold


Expectations: decline to 43.40 and bounce to 48.51


Trade solutions:


1) Sell to 43.40


2) Buy from 43.40 to 48.50


Gold


Month chart: all the signs of readiness of beasr working out August inside bar. Middle-term traders may well look for entries down based on breakdown of the psychological support level of $ 1,000 per ounce.


Weekly review of S&P500,  oil and gold


Week chart: inactive frame range 1086.04-1161.43. So, the monthly bar may be the inside bar. That, in turn, will increase potential of the Southern movement.


Weekly review of S&P500,  oil and gold


The daily chart: reaffirm support on or the lower band (1086.04). Resistance is on the middle band (1128.24)


Weekly review of S&P500,  oil and gold


Expectations: decline to 1086.04 and then bounce to 1228.24


Trade solutions:


1) Sell to 1086.04


2) Buy from 1086.04 to 1228.24.

Aleksey Panasenko
FreshForex Analyst
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