Weekly review of S&P500, oil and gold | 04 December 2015

Monthly: November's close is taking place on growth, so on the one hand, we are waiting for finalization of the upper Bollinger band (2169.5) in the medium term, and on the other hand - downward reversal, because ADX still contradicts RSI.

Weekly: a little more localized resistance at 2160.0 (upper Bollinger band).

The daily chart: this week we expect ​​resistance and support at 2124.0 2082.3 and 2036.6

Expectations: flat in the horizontal daily range 2036.6-2124.0

solutions: trade to the both sides of the flat borders.

"Brent"

Monthly:Bears have not yet brought the oil to new lows, but, in general, there is a medium-term potential for a decline to 28.10 (bottom Bollinger band)

Weekly: bullish convergence of oscillator and strong support in the 42.16 area (bottom Bollinger band). An upward rollback to the middle Bollinger band zone (50.21) is quite probable

The daily chart: decline to the new zone of 42.73 and a pullback to 46.89 is quite a probable option

Expectations:

The main scenario - decline to 42.73 and an upward rollback to 46.89

The alternative scenario - upward correction to 50.21, which area is very likely to offer a high concentration of Brent.

solutions:

1) Sales to 42.73

2) Buy from 42.73 to 46.89

3) In the case of a break above 46.89 - buy from 50.21

4) If the price can reach 50.21 - middle-term sales to 21.10

Gold

Monthly: a new big drop is approaching - bears come close to the pivot area of ​​1039.90 and they do so on trending ADX (ie break down is very possible)

Weekly: ADX is gaining momentum, but has not yet reached the core zone, therefore this week we waiting when the price gets under new lows, a breakdown of the bottom envelope, and then probably a rollback to the middle band (1122.64), where we will sell for the medium and long term.

The daily chart: bullish convergence of the oscillator against background of oversoldness. This allows the price to withdraw under new lows. However, we can expect an upward rollback up after the week envelope is broken. Therefore, we are waiting for break of 1039.90 and beginning of correction towards 1091.35 (middle Bollinger band) and 1122.64 (middle weekly band).

Expectations:

The main scenario - drop to 1039.90 and beginning of an upward rollback to 1091.35 (scenario is unlikely to take more one week).

The alternative scenario - breakthrough under 1039.90 and the further drop against panic.

solutions:

1) Sales to 1039.90

2) Buy from 1039.90 (we'll need confirmation signals to enter)