Gold, oil and S&P500 this week

June 1, 2015

S&P500

Monthly chart: we still wait when the index will reverse to correction. Marginal area is represented by the upper Bollinger band (2197.7).

Weekly chart: a local flat corridor within the range 2007.8-2150.2

Day chart: even a better shaped flat area 2078.7-2142.6

Expectations: flat position within the range 2078.7-2142.6

Trading decisions:

1) Trading in both sides within the channel 2078.7-2142.6

"Brent" oil

Monthly chart: To be based on general bearish scenario, bears could be more persuasive. But meanwhile Southern scenario is not broken, we wait 48 USD per barrel in the middle run.

Weekly chart: Here bulls claim for reversal. For that, a new High has to be reached. Until it is reached, decline continues.

Day chart: key resistance is based at 68.98. Any movement above means that bullish potential starts to work here and threat of failure of a Southern scenario.

Expectations: Until Brent is traded below 68.98, we wait for decline down to 48.00 in the middle term. If there is a break above 67.00, a new Northern impulse may occur.

Trading decisions:

1) We keep sales open to 48.00

Gold

Monthly chart: Flat structure is still here.

Weekly chart: Gold in the bottom envelope with support at 1144.62

Day chart: a bullish pin has been received but place of emergence is controversial. Nevertheless, we are based from the possibility of growth to upper Bollinger band 1226.24

Expectations: Growth to 1224.26

Trading decisions:

1)We buy to 1224.26

Aleksey Panasenko

Analyst of «FreshForex» company

Publication source
FreshForex information  FreshForex reviews

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