The weekly review of three contracts | 30 September 2016

S&P500

Monthly: so, after a strong bearish divergence, there are no signs that bulls may seize the initiative. Therefore, we are waiting for continuation of the downward reversal of the index. First, it will move to the middle Bollinger band (2062.8). Later - even lower (to 1908.0, the lower Bollinger band)

Weekly: residual Northern potential is present - the upper Bollinger band was "delayed" at the top at the level of 2220.7. But, anyway, ADX contradicts to RSI ligament is protivohod, so downward reversal is alslo relevant here.

Daily: strong pressure from ADX. Presence of the bearish inside bar makes it a Sell signal! Support is at 2126.4, but if decline is confirmed, the chart will get even lower on a background of aggressive ADX.

The main scenario - a direct decline 2126.4 (with the target of 2062.8)

The alternative scenario - surge to 2200.7 and only then a decline.

Solutions: sell to 2126.4 and 2062.8

"Brent"

Monthly: Oil is still waiting for clear signals at the middle Bollinger band (50.05). Bollinger envelopes are not narrow enough for impulse distribution.

Weekly: a well expressed flat inside Bollinger envelopes (44.04-51.71). ADX confirms the flat trend: - it is in a very weak area, and at the same time continues to fall.

Daily: support is around ​​the lower Bollinger band (45.08), resistance - 47.72, 48.58. ADX is passive, so we expect trading will be performed within this corridor.

Expectations: flat 45.08-48.58

Solutions: buy from 45.08 to 48.58

Gold

Monthly: in the medium run, gold confirms its overall northern orientation (in the direction of 1562.59). ADX is still aggressive and Bollinger envelopes are significantly expanded.

Weekly: but at this local frame the chart is not ready: ADX is correcting down which contradicts to the oscillator. This means that so far resistance area 1368.58-1287.25 remains to be active. Support is at the middle band (1307.65)

Daily: resistance is at 1347.63 (the upper Bollinger band). Envelopes are stable and horizontal. ADX is passive, so the basic expectation for this week is the flat 1307.65-1347.63

Expectations: flat 1307.65-1347.63

Solutions: trading in the range 1307.65-1347.63.