Review of S&P500, Brent, Gold | 19 August 2016


S&P500


Monthly: A northern mid-term pressure. But ADX is far from the trend zone, so we wait for downward pullbacks.



Weekly: a similar picture - growth on the back of insufficient status of ADX. A downward correction can take place down the middle Bollinger band (2093.6)



Daily chart: two local support lines are at 2170.7 and 2154.7.



Expectations: So, the basic expectation is a northern preparation, during which the index can get corrected to 2170.7 and 2154.7.


Solutions: waiting for decline to the areas 2170.7 and 2154.7 to search for a signal to buy.


"Brent"


Monthly: So far, oil is being traded within the bottom Bollinger envelope (with resistance at 51.72 area - the middle Bollinger band). Bulls can turn up the price in the event of a breakthrough above this level.



Weekly: As we can see, here buyers are moving up without support from ADX, which may indicate a strong supply around 51.72



Daily chart: the intermediate resistance is at 48.79 (upper Bollinger band), but since ADX in the "strong" area, nothing can guarantee density of this level.


Review of S&P500, Brent, Gold


The main scenario - surge to 51.72


The alternative scenario - touch of 48.79


Solutions: purchases to 48.79 and possibly to 51.72


Gold


Monthly: nothing is left but to wait start of the medium-term impulse growth of gold, because we have a very active ADX.



Weekly: a local correction can make the price drop to the middle Bollinger band (1285.27), where purchases will be worth again.



Daily chart: a flat horizontal corridor inside Bollinger envelopes (1311.56-1363.63)



The main scenario - drop to 1311.56 followed by a growth to 1363.63


The alternative scenario - a stronger downward correction to 1285.27


Solutions: look for purchases around 1311.56 and 1285.27


Aleksey Panasenko
FreshForex Analyst
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