Intermediate support is based the bottom Bollinger band

8 June, 2015

S&P500

Monthly chart: an long-awaited reversal? It seems much likely. Bollinger bands are rounded off and divergence presents. We wait the index to reach the middle Bollinger band (1949.6), though it can even more serious.

Weekly chart: intermediate support is based the bottom Bollinger band (2011.7). ADX is not ready for a breakthrough yet, so one more pullback to the middle line (2086.3) is probable, whereupon a core phase of movement can pass to 1949.6.

Day chart: local support is better shaped on 2078.7. But ADX is actively growing, so we shall warn you against purchases.

Expectations: decline to 2078.7, then to 2011.7 and a general target on decline to 1949.6

Trading decisions:

1) We shall sell to specified level and set targets based on our own intentions.

"Brent" Oil

Monthly chart: we've received a notable confirmation signal for general decline: the bottom Bollinger band lost several USD and now we have the point 46.58 as target.

Weekly chart: the last week bulls have received a good pinbar and chance for growth but now bears have almost nullified it by inside bar. So, we wait when the price begins to move to 46.58

Day chart: support from the bottom band (62.44) keeps the price, so we will look to enter into sales in the area 65.00.

Expectations: so, we wait when middle-term decline to 46.58 will begin, but a preliminary pullback to 65.00 is possible.

Trading decisions:

1) We keep open sales.

2) Look to enter into sales in the area 65.00.

Gold

Monthly chart: bears are holding down, so support line 1134.70 (the bottom Bollinger band) will be attacked.

Weekly chart: weak ADX does not allow to expect a direct breakthrough of the level 1134.70, so we will expect a pullback to the middle Bollinger band (1213.1).

Day chart: local support is better shaped on 1167.39 but active ADX does not allow us to rely on this level.

Expectations: decline to 1167.39 and 1134.70, then a bounce to 1213.01 and a new wave of decline the next week.

Trading decisions:

1) Looking for purchases from 1134.70 to 1213.01

2) Once 1213.01 is reached, we look for signals to sell.


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Range 1.5586-1.5651

Daily chart: the pair continues to be a wide flat range within the envelope Bollinger (1.5417-1.5711). Expectations: touching zone 1.5586 and rising to 1.5651...

We do not expect much volatility today

The daily chart: it is likely that flat status of ADX forecast to the Pound the day with a low volatility. We expect a calm trading around the middle Bollinger band (1.56)...

Flat day

Daily chart flat state of ADX and Bollinger envelopes say that the pair will spend the day (and the nearest time) within the present range: the upper envelope (123.39-125.17)...


Target is at 125.17

Daily chart: the upper Bollinger band rose even higher - at 125.17 and now this mark is an actual target for growth. So, we wait for growth to 125.17, but in the area of 124.47 we can probably meet turbulence and a possible rollback...

We shall buy to 125.09

Daily chart: the pair has predictably broken Inside bar up and now is moving to the upper Bollinger band (125.09) (125.09)...

Looking for short signals from resistance 1.1140 or 1.1224

Daily chart: the Euro preserves a growing tendency and continues to rise to the upper Bollinger band (1.1224), which, given the state of ADX, is likely to be corrected downwards to the middle band (1.10)...


Weekly review: gold, S&P500, Brent oil

Monthly chart: scenario of reversal is justifying itself. Northern marks are still achievable, but the bullish momentum has depleted to a notable extent...

Support is possible around 1.0789

Daily chart: Euro is still forced down. Currently the target is 1.0789 (the bottom Bollinger band). Somewhere you meet a significant support for a correction and as a result new sales area to move on trend...

Weekly review of S&P500 index, oil and gold

Monthly chart: bulls bolted off to work on the upper Bollinger band (2190.6), but ADX is persistent in its decline, so we are waiting for a downward reversal...

  


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