BRENT
In the H4 chart, Brent is trading above the 200-day Moving Average to indicate an ascending tendency. In this case, the price is expected to break 7/8 and then continue moving upwards to reach 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 correct down to 5/8.
As we can see in the M15 chart, the upside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may continue trading upwards only after breaking 7/8 in the H4 chart.
S&P 500
In the H4 chart, the S&P Index is trading below the 200-day Moving Average to indicate a descending tendency. In this case, the price is expected to break 3/8 and then continue falling towards the support at 2/8. However, this scenario may no longer be valid if the asset breaks the resistance at 4/8 to the upside. After that, the instrument may reverse and grow to reach 6/8.
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.
Source: Roboforex
