BRENT
As we can see in the H4 chart, after reaching the “oversold area”, Brent is trading at 0/8. In this case, the price is expected to rebound from this level and resume moving upwards to reach the resistance at 2/8. However, this scenario may no longer be valid if the asset breaks 0/8 to the downside. After that, the instrument may fall towards the support at -1/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.
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 6/8, break it, and then continue growing towards the resistance at 7/8. However, this scenario may no longer be valid if the asset breaks the support at 5/8 to the downside. After that, the instrument may reverse and correct down to 4/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue growing.
Source: Roboforex
