Weekly Review. S&P500, Brent, gold | 10 Fevereiro 2017

S&P500


Monthly chart: moderate index growth tendency is still valid, ADX is getting active. Such a situation is negative for trading: one need to buy with huge stops and it's dangerous to sell counter trend. So trading is recommended only on lower charts.


Weekly Review. S&P500, Brent, gold


Weekly chart: there is a potential high at 2330.5 (upper Bollinger band). It's difficult to say whether this region will stop bullish attack. ADX is growing but not in trend yet. In any case we may confirm upside potential.


Weekly Review. S&P500, Brent, gold


Daily chart: locally we have flat corridor 2257.8-2299.3 (Bollinger bands range). Here ADX is falling, so the next week might flow inside these specified borders.


Weekly Review. S&P500, Brent, gold


Expectations:


Core scenario - flat in 2257.8-2299.3


Alternative scenario - rise to 2330.5


Solutions:


Brent


Monthly chart: bulls reserved momentum advantage (despite of the bearish January pinbar). If buyers will manage to validate their potential, their mid-term target will be 64.71 (upper Bollinger band)


Weekly Review. S&P500, Brent, gold


Weekly chart: here we are observing very active ADX in trend region. That allows us count on rapid growth towards 64.71.


Weekly Review. S&P500, Brent, gold


Daily chart: Bollinger envelopes are stable now and are in 54.18-57.32 range. However, ADX is very close to trend and if it goes higher new oil rise may be triggered.


Weekly Review. S&P500, Brent, gold


Expectations:


Core scenario - starting growth towards 64.71


Alternative scenario - flat in 54.18-57.32


Solutions: consider buying with mid-term target at 64.71


Gold


Monthly chart: gold shows flat in middle Bollinger band region (1215.13). There is a broad flat in 1026.03-1364.11 (Bollinger envelopes range)


Weekly Review. S&P500, Brent, gold


Weekly chart: here we are observing twofold situation. On the one hand, gold demand levels at 1109.00 and 1090.00 (lower Bollinger band and bullish Over&Under pattern) are not broken yet. On the other hand, we have highly active buyers. Key level for further developements analysis is 1230.03 (middle Bollinger band). If this resistance level will be able to hold the price, we may see decline (see red arrow). In case of upside breakout bulls will break upper Bollinger band (1138.00, see blue arrow).


Weekly Review. S&P500, Brent, gold


Daily chart: here ADX is active and bulls force their potential. If resistance level at 1230.03 is broken, 1250.00 and 1300.00 regions will be tested


Weekly Review. S&P500, Brent, gold


Expectations:


Core scenario - resistance level breakout at 1230.03 and rise towards 1250.00 (with target at 1300.00)


Alternative scenario - decline from 1230.03 to 1200.46.


Solutions: consider buying towards 1250.00 and 1300.00

Aleksey Panasenko
Analyst of «FreshForex» company
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