Weekly trend potential | 27 June 2014

S&P500



Monthly chart: an ascending movement is still taking place, but product is overbought. We can tell almost for sure that a strong correctional downward movement will take place in the area of the upper Bollinger band  (2015.1) in the direction of the middle line (1666).


Weekly trend potential


Weekly chart:  Bearish divergence is one more confirmation that bullish front got weaker. Support is localized at 1862.2


Weekly trend potential


Day chart: one more support is based at 1931.7. If the price gets below, Over&Under of reversal type will be formed.


Weekly trend potential


Conclusion: so, the index is just about to start a reversal. The point 2015 represents the key resistance point, from where we can consider sales. The possibility to get below 1931.7 right after the week's opening is another option of reversal. In this case, main sales will take place once the price returns to the starting point under O&U pattern (1955).


Brent oil


Monthly chart: resistance 115 we mentioned in the last review has been achieved. There is a threat of a more abrupt turn to 126, 06 and 143,78, but passive ADX prevents it. Therefore, a main plan is the path of the blue arrow (flat within Bollinger envelopes), an alternate way is the growth to 126.06 and 143,78. (pink arrow)


Weekly trend potential


Weekly chart:  within the frames of horizontal channel 108.21-116,54 we can witness resistance116,54.


Weekly trend potential


Day chart: There is a threat of reversal through Over&Under.


Weekly trend potential


Conclusion: so, the main plan is the flat within the channel 108.21-116.54.  Another option is the break to price 126.06 and threat of a further growth to 143.


Platinum


Monthly chart: here a faded trading has been conducted around the middle Bollinger band  (1456,43). There are no signs that this tendency will end.


Weekly trend potential


Weekly chart:  support is localized at 1386.68, but the channel with resistance 1494.64 has been preserved.


Weekly trend potential


Day chart: one more point of support is situated at 1420.84.


Weekly trend potential


Conclusion: flat 1420.64-1494, with bulls' advantage, whereof Bollinger supportive points are talking about, that's why it is more safe to buy at decline.

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