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

Monthly chart: need to wait for the closing of the month bar to see the real reaction of the index to the important support from the middle Bollinger band (1971.8). ADX/RSI still retains a corrective configuration that leaves bulls a chance for revenge.


Weekly review of S&P500, gold and oil


Weekly chart: intensive return to the area of ​​the middle Bollinger band (2087.4) after the breakdown of the bottom of the envelope. As soon as the price touches this area, we can expect another decline.


Weekly review of S&P500, gold and oil


The daily chart: similar picture, but with the more localized middle Bollinger band (2049.0)


Weekly review of S&P500, gold and oil


Expectations: So, we wait for growth to 2049.0 and then decline to 1900.0.


solutions:


1) Sell from 2049.0 to 1900.0.


"Brent"


Monthly chart: despite an intensive correction of the last week, the lower Bollinger band continues to point at 36.85, which is the medium-term target for decline.


Weekly review of S&P500, gold and oil


Weekly chart: well-shaped convergence of the oscillator - for bulls. There is potential for a correction up to the middle Bollinger band (59.24), where we will wait for another run down.


Weekly review of S&P500, gold and oil


The daily chart: more localized strong resistance at 54.50 (upper Bollinger band).


Weekly review of S&P500, gold and oil


Expectations: a little more correction up to 54.50, and then decline to the area of ​​43.00


solutions:


1) We keep selling in the medium-term and will add to the 54.50 zone.


Gold


Monthly chart: the price continues a corrective recovery of gold. The final goal of the correction - 1228.59 (middle Bollinger Band), where, presumably, bears will attack the area of ​​1040.72 again.


Weekly review of S&P500, gold and oil


Weekly chart: some grip between the levels 1093.35 and 1169.00. The week can be spent within this corridor.


Weekly review of S&P500, gold and oil


The daily chart: a more localized support at 1117.10.


Weekly review of S&P500, gold and oil


Expectations: growth to 1169.00 and then decline to 1117.10


solutions:


1) Buying to 1169.00

Aleksey Panasenko
FreshForex Analyst
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