Weekly report on Brent, Gold and S&P500 | 01 May 2015

S&P500


Monthly chart: The tendency is not changing: bulls are squeezing the most out of what they can but ADX certainly demonstrates the preparation for downward reversal (of course, taking into account relevant time scale against 1 month's time frame, that is to say,it is a matter of June - July). Meanwhile, the upper Bollinger band (2190.3) is the ultimate zone of growth. The first target of decline will be the middle band (1914.3).


Trend potential Forecast


Weekly chart: We don't wait the index even above 2134.0, because ADX is not sufficient for that. Local support is based in 2050.0


Trend potential Forecast


Day chart: the same picture here. Waiting for flat this week in the range 2081.5-2123.9


Trend potential Forecast


Expectations: flat 2083.5-2123.9 .


Trading decisions:


1)  Trading in both sides of the range on additional signals.


"Brent" oil


Monthly chart: Bulls are quite confident in April and their potential is far from beign exhausted. Upon that, a middle-term downward trend is preserved.


Trend potential Forecast


Weekly chart: here is a significant resistance which can lead to news sales and it is based on the upper Bollinger band (70.95).


Trend potential Forecast


Day chart: local pressure is preserved so we are waiting when 70.95 will be worked on and decline will start.


Trend potential Forecast


Expectations: growth up to 70.95 is quite probable, from where a new strong wave of decline is possible in the direction of 60.18 and a middle-term target at 48.11 .


Middle-term trading decisions:


  1) We keep sales open to 70.95.


  2)   From 70.95 we sell to 60.16 and 48.11 (in the middle- and long-term run)


Gold


Monthly chart: gold is based within 1145.00-1248.00 and meantime does not show signals of leaving beyond these boundaries.


Trend potential Forecast


Weekly chart: we confirm support in the area of 1145.00, from which we can buy to 1212.27 and 1248.00


Trend potential Forecast


Day chart: Picture is the same as well conclusions. 


Trend potential Forecast


Expectations: Decline to1145.00 and stat of growth to 1212.27


Trading decisions:


1) We buy from 1145.00 to 1212.27. 

Aleksey Panasenko
FreshForex Analyst
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