Weekly review: S&P500, Brent, Gold | 05 February 2016

S&P500


Monthly chart: the index “bounced” from the bottom Bollinger band but it barely changes the full tendency for the reverse down.


Weekly review: S&P500, Brent, Gold



Weekly chart: strong resistance in the zone of the middle Bollinger band (2004.1), we wait for the bounce down.


Weekly review: S&P500, Brent, Gold



Daily chart: we note the resistance zone 2004.1-2045.2 formed by the upper Bollinger band.


Weekly review: S&P500, Brent, Gold



Expectations: growth to the zone 2004.1-2045.2 and a bounce then.


Trading solutions:


1) Buys to 2004.1-2045.2


2) Wait with sales from 2045.2


Brent


Monthly chart: bulls conducted a significant correction in the end of January but the month’s closure is not considered to be successful for them.


Weekly review: S&P500, Brent, Gold



Weekly chart: probable correction target is the middle Bollinger band (43.39).


Weekly review: S&P500, Brent, Gold



Daily chart: more localized resistance 38.50.


Weekly review: S&P500, Brent, Gold



Expectations:


The main scenario: growth to 38.50 and a new decline to 32.73 then.


Alternative scenario: more significant correction to 42.38


Trading solutions:


1) Buys to 38.50 (and search for new signals down then)


2) Buys to 42.38


Gold


Monthly chart: a technical correction to the middle Bollinger band is continued (1186.35).


Weekly review: S&P500, Brent, Gold



Weekly chart: we confirm the target to 1186.35.


Weekly review: S&P500, Brent, Gold



Daily chart: there may be a resistance in the upper Bollinger band (1128.71) as the ADX didn’t reach the trend zone.


Weekly review: S&P500, Brent, Gold



Expectations:


The main scenario: bounce down from 1128.71 in the direction to 1106.72


Alternative scenario: breakthrough under 1128.71 and the target to 1186.35


Trading solutions: buys from the zone 1106.72 (after the pullback down) with the middle-term target 1186.35

Aleksey Panasenko
FreshForex Analyst
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