BRENT
In the H4 chart, after breaking the 200-day Moving Average, Brent is trading below it to indicate a descending tendency. In this case, the price is expected to continue moving downwards to reach the support at 0/8. However, this scenario may no longer be valid if the asset breaks the resistance at 2/8 to the upside. After that, the instrument may grow towards 3/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.
S&P 500
As we can see in the H4 chart, the S&P Index is trading above the 200-day Moving Average to indicate a possible ascending tendency. In this case, the price is expected to test 7/8, break it, and then continue growing towards the resistance at 8/8. However, this scenario may no longer be valid if the asset breaks the support at 6/8 to the downside. After that, the instrument may reverse and correct down to the next support 5/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue growing.
Source: Roboforex
