Weekly review of S&P500, Brent, oil | 13 May 2016


S&P500


Monthly: The basic expectation is still the beginning of decline in the direction of the bottom Bollinger band (1923.3). Bullish momentum noticeably demonstrates weakness in the resistance zone 2111.7.



Weekly: Here we also see a well-shaped bearish potential after a rebound from 2111.7. This ADX still shows correction, so do not expect an impulse decline However, the goals are 1995.1, 1923.2, 1850.8.



Daily: Many traders are now asking themselves if it is a Head and Shoulders pattern? In fact, it is. We sell around the middle band (2078.0)



Expectations:now we expect beginning of decline of the index from 2078.0 in the direction of 1995.1, 1923.2, 1850.8.


Solutions: Sell from 2078.0 to 1995.1, 1923.2 and 1850.8.


"Brent"


Monthly:well, we expect a continued correction to 58.01 (middle Bollinger band). Rounding of Bollinger bands along with the bullish convergence of oscillator may mean the medium-term reversal of Brent. But let's not get much far ahead and wait for finalization 58.01, where sales may start again.


Weekly review of S&P500, Brent, oil


Weekly: So far, Bollinger envelope are stable, which may indicate the possibility of a horizontal flat. But upon that ADX is aggressive and that aggression can be directly related both to bulls and bears. But, if we are based on the monthly chart, our main expectation is still growth to 58.01 (with a possible pre-correction to the middle band (38.20)


Weekly review of S&P500, Brent, oil


Daily: local support lines are at 44.52 and 40.89 (the middle and bottom Bollinger bands)


Weekly review of S&P500, Brent, oil


Expectations: now we expect surge towards 58.01 or from 44.52, either from 40.89


Solutions: we expect Buy signals around 44.52 or 40.89. Goal - 58.01


Gold


Monthly: Resistance at the upper Bollinger band (1320.63) remains its relevance. At the same time, we have a very active ADX, that can help bears to lower the price sharply to 1057.97 (the bottom Bollinger band). However, a possible inverse correlation with oil is a thing to be considered here.



Weekly: we confirm resistance around 1320.63-1336.77.



Daily:a local resistance 1296.73 (upper Bollinger band). This area can cause a decline: the attack runs without the support of ADX.



Expectations:


The main scenario - surge to 1320.63-1.336.77 followed by a start of decline towards 1213.15


The alternative scenario - start of decline directly from current levels (1296.73).


Solutions: Look for the entry points based on current events and one of the plans


Aleksey Panasenko
Analista de la empresa" FreshForex
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