S&P500, Brent, gold: weekly review | 02 October 2015


S&P500


Monthly: As you can see, so far, structure of movement is rising. We will admit a complete reversal of the index only with a breakdown of support 1794.2.


S&P500, Brent, gold: weekly review


Weekly: Not only breakdown of the local trend line is already present here, but retest of the bottom (which is a usual tactic of reversals). Also active ADX, so we expect lowering in the direction of 1794.22 to continue.


S&P500, Brent, gold: weekly review


The daily chart: this week there may be a delay between the envelopes. Support is on the bottom band (1909.0), resistance is on the middle band (1951.8)


S&P500, Brent, gold: weekly review


Expectations: rebound from 1909.0 to 1951.8, from where an intensive decline to 1794.2 will continue


Trade solutions:


1) Skip the rise and sell at the touch of 1951.8 to the goal 1794.2


"Brent"


Monthly: very little remains before closing of the bar and this closing will be very important because it either shows us a bearish inside bar or bulls manage to implement a rollback in zone of 50 % of the August pin.


Bollinger Bands persistently vote for continuation of the fall to the medium-term target 34.15.


S&P500, Brent, gold: weekly review


Weekly: impressive bullish convergence conveys some weakening of sellers, but Bollinger envelopes are expanding , and bearish pinbar can not be considered finalized. Support is 42.37


S&P500, Brent, gold: weekly review


The daily chart: this week is likely to be spent in consolidation between 46.47-52.17


S&P500, Brent, gold: weekly review


Expectations: Flat 46.47-52.17


Trade solutions:


1) Sell from 52.17 to 46.47 or to 34.15 in the middle run


GOLD


Monthly: bulls are very active and have a chance to attack the upper Bollinger band (1339.55)


S&P500, Brent, gold: weekly review


Weekly: strong resistance from the middle Bollinger band (1152.32) has been reached here, therefore, a rollback to 1095.22 zone is likely, a month bar would be an inside bar.


S&P500, Brent, gold: weekly review


The daily chart: we also have a bearish signal - inside bar from the upper Bollinger band with weak ADX. We expect drop to 1095.22


S&P500, Brent, gold: weekly review


Expectations: drop to 1095.22


Trade solutions:


1) Sell from current levels to 1095.22


Aleksey Panasenko
FreshForex Analyst
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