Weekly review of S&P500, gold and oil | 12 June 2015


S&P500


Monthly chart: an long-awaited reversal? It seems much likely. Bollinger bands are rounded off and divergence presents. We wait the index to reach the middle Bollinger band (1949.6), though it can even more serious.


Weekly review of S&P500, gold and oil


Weekly chart: intermediate support is based the bottom Bollinger band (2011.7). ADX is not ready for a breakthrough yet, so one more pullback to the middle line (2086.3) is probable, whereupon a core phase of movement can pass to 1949.6.


Weekly review of S&P500, gold and oil


Day chart: local support is better shaped on 2078.7. But ADX is actively growing, so we shall warn you against purchases.


 


Weekly review of S&P500, gold and oil


Expectations: decline to 2078.7, then to 2011.7 and a general target on decline to 1949.6


Trading decisions:


1) We shall sell to specified level and set targets based on our own intentions.


"Brent" Oil


Monthly chart: we've received a notable confirmation signal for general decline: the bottom Bollinger band lost several USD and now we have the point 46.58 as target.


Weekly review of S&P500, gold and oil


Weekly chart: the last week bulls have received a good pinbar and chance for growth but now bears have almost nullified it by inside bar. So, we wait when the price begins to move to 46.58


Weekly review of S&P500, gold and oil


Day chart: support from the bottom band (62.44) keeps the price, so we will look to enter into sales in the area 65.00.


Weekly review of S&P500, gold and oil


Expectations: so, we wait when middle-term decline to 46.58 will begin, but a preliminary pullback to 65.00 is possible.


Trading decisions:


1) We keep open sales.


2) Look to enter into sales in the area 65.00.


Gold


Monthly chart: bears are holding down, so support line 1134.70 (the bottom Bollinger band) will be attacked.


Weekly review of S&P500, gold and oil


Weekly chart: weak ADX does not allow to expect a direct breakthrough of the level 1134.70, so we will expect a pullback to the middle Bollinger band (1213.1).


Weekly review of S&P500, gold and oil


Day chart: local support is better shaped on 1167.39 but active ADX does not allow us to rely on this level.


Weekly review of S&P500, gold and oil


Expectations: decline to 1167.39 and 1134.70, then a bounce to 1213.01 and a new wave of decline the next week.


Trading decisions:


1) Looking for purchases from 1134.70 to 1213.01


2) Once 1213.01 is reached, we look for signals to sell.


Aleksey Panasenko
FreshForex Analyst
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