Weekly Review: S&P500, Brent, Gold | 15 April 2016


S&P500


Monthly: there are signs that the upward correction would stop and reverse in the direction of the bottom Bollinger band (1912.9)



Weekly: as we expected, the price has stopped around complex resistance 2090.0. We can also expect bearish momentum in the direction of 1894.4 (the bottom Bollinger band)



Daily: local goal for this week - 1993.6 (the bottom Bollinger band). The resistance is concentrated around ​​2083.1 (upper band)



Expectations: Now we expect a decline to 1993.6 (possibly after touch of 2083.1)


solutions: we sell to 1993.6 (ideally - from 2083.1)


"Brent" oil


Monthly: Bulls continue to adjust the price in the direction of the middle Bollinger band (59.89). We notice rounding of the bottom band that could potentially entail signs of aa complete upward reversal



Weekly: local resistance around 46.80 (the upper Bollinger band); support is at 40.35 (the middle band). ADX parameters are insufficient, so Brent is likely to spend a week within the range of the upper envelope



Daily: we also have insufficient activity of ADX, so we are waiting resistance around 42.85. Plus, we can see the local bearish Over&Under, which adds intrigue.



Expectations:


The main scenario - surge to 42.85 and pullback to 40.35


The alternative scenario - a breakthrough to 46.80 (in case of a break above 42.85)


Trading solutions: Looking for buying options to 46.80


Gold


Monthly: the price maintains a downward mid-term trend towards the bottom Bollinger band (1047.56)


Weekly Review: S&P500, Brent, Gold


Weekly: another surge to the to the upper Bollinger band (1302.89) is possible, whereupon the gold is much likely to fall to 1152.56 (the middle Bollinger band)



Daily: horizontal channel 1207.87-1268.17 (the range of Bollinger envelopes)



Expectations: lift to 1268.17 and then drop to 1207.87


solutions: sales from 1268.17 to 1207.87


Aleksey Panasenko
FreshForex Analyst
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