Brent
As we can see in the H4 chart, divergence on MACD made the asset start a new correctional downtrend after testing the post-correctional extension area between 138.2% and 161.8% fibo at 94.53 and 99.41 respectively. After the correction is over, the price may break the local high at 94.73 and continue moving within the area. The local support is at 69.25, a breakout of which will lead to the key one at 65.89.
The H1 chart shows the downside correctional targets – 23.6%, 38.2%, and 50.0% fibo at 88.73, 85.00, and 82.00 respectively. A breakout of the resistance will result on a further uptrend.
Dow Jones
As we can see in the H4 chart, the index continues its mid-term wave to the upside; the key target is the high at 36971.0. After breaking it, the asset may continue growing to reach the post-correctional extension area between 138.2% and 161.8% fibo at 38428.0 and 39339.0 respectively. The key support is the local low at 33138.0.
The H1 chart shows that the correctional uptrend has broken 61.8% fibo; right now, it is heading towards 76.0% fibo at 36050.0. At the same time, there is divergence on MACD, which may hint at a reversal and a new decline to reach the support.
Source: Roboforex
