Weekly review of S&P500, gold and oil | 19 June 2015


S&P500


Monthly chart: Index has been traded inside May's range for the half of the month. The upper Bollinger band was rounded off in the area of 2186.2, so, soon after the end of current consolidation, we wait a downward reversal in July, theoretically, ceiling is on the upper band. Target of correction is the middle Bollinger band (1953.9)


Weekly review of S&P500, gold and oil


Weekly chart: a well-shaped divergence but one more shift upwards is probable – to 2152.3 (the upper Bollinger band ).


Weekly review of S&P500, gold and oil


Day chart: here we have an almost completed pullback to the middle line after a break of the bottom Bollinger envelope. All this can mean a direct downward movement to 2015.8.


Weekly review of S&P500, gold and oil


Expectations: so, waiting for an attack of support 2078.6 and decline to 2015.8


Trading decisions:


1) We shall sell to 2015.8


"Brent" Oil


Monthly chart: the bottom Bollinger band still votes for a slump 45.68.


Weekly review of S&P500, gold and oil


Weekly chart: a false upward breakthrough of Inside Bar has been received which speaks for bears. Passive ADX does not allow us to rely on impulse decline. But target is still the same - 45.68.


Weekly review of S&P500, gold and oil


Day chart: attack of 62.41 and 60.46 support points and it will be performed for the whole week.


Weekly review of S&P500, gold and oil


Expectations: Decline to 62.41 and 60.46


Trading decisions:


1) We keep sales to 62.41 and 60.46


Gold


Monthly chart: still a flat in the area of the bottom Bollinger band (1127.73)


Weekly review of S&P500, gold and oil


Weekly chart: horizontal range 1127.73-1225.87


Weekly review of S&P500, gold and oil


Day chart: a better shaped support at 1162.21. Possible growth - 1194.40 and 1209.12.


Weekly review of S&P500, gold and oil


Expectations: expecting flat 1162.21-1194.40. Range is wide, so purchases from the bottom are preferred.


Trading decisions:


1) We shall look for signals to purchases in the area 1162.21


Aleksey Panasenko
FreshForex Analyst
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