Weekly report on Brent, Gold and S&P500 | 29 May 2015

S&P500


Monthly chart: Situation remains the same: the price has the tendency to hit 2200.1 and with a high probability, to receive a middle-term downward correction. By little, bulls are taking hook, whereas bears are shotting their guns. 


Trend potential Forecast


Weekly chart: ADX is weak so we don't expect the index above the upper Bollinger band (2153.8). Support is based in the area of the middle band (2070.0)


Trend potential Forecast


Day chart: Flat area has been shaped even better within 2112.1-2139.7.


Trend potential Forecast


Expectations:  Flat within 2112.1-2139.7


Trading decisions:


1) Sales from 2139.7 to 2112.1 .


"Brent" oil


Monthly chart: We're still keeping sales open expecting decline in the middle run to 48.11.


Trend potential Forecast


Weekly chart: A possible alternative scenario is the breakthrough to new levels, wrecking of bears' stops and growth of quotations in the direction to 92.36


Trend potential Forecast


Day chart: The coming week may bring trading within Bollinger envelopes (64.29-68.25) 


Trend potential Forecast


Expectations: General target is decline, but this week support 64.29 may again give a reason for pullback to 68.25. However, from this point we can consider sales again.


Trading decisions:


1) We're keeping sales open.


2) If there is a pullback to 68.25, we shall be added on the lower level.


Gold


3) If trades will work based on Stops, we will take a pause before the next week.


Monthly chart: Flat is in the range of the bottom envelope. Since the range is very narrow, we will switch to younger charts.


Trend potential Forecast


Weekly chart: Flat range is 1135.46-1287.33


Trend potential Forecast


Day chart: Flat is better shaped here 1172.79-1229.46


Trend potential Forecast


Expectations: Flat is in the range1172.79-1229.46


Trading decisions:


1) Trading in the channel 1172.79-1229.46 in both sides.

Aleksey Panasenko
Analista de la empresa" FreshForex
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