BRENT
On H4, Brent quotes are under the 200-day Moving Average which indicates prevalence of a downtrend. The RSI is testing the descending trend line. Currently, the price should test 3/8 (84.38), break through it, and fall to the support level of 2/8 (81.25). The scenario can be cancelled by the price rising over 4/8 (87.50), in which case the quotes may rise to 5/8 (90.62).
On M15, the lower line of VoltyChannel is broken away, which confirms a downtrend and a high probability of further price falling.
S&P 500
On H4, the quotes have broken through the 200-day Moving Average and are now above it, which hints on a possible development of an uptrend. The RSI has bounced off the ascending trend line and continues going upwards. Currently, the price is expected to rise above the resistance level of 2/8 (4062.5) and next – growth to 3/8 (4218.8). The scenario can be cancelled by a downward breakaway of the support level of 1/8 (3906.2), which might lead to falling to 0/8 (3750.0).
On M15, the upper line of VoltyChannel is broken away, which increases the probabilitt of growth to 3/8 (4218.8) on H4.
Source: Roboforex
