Weekly review of S&P500 index, oil and gold

20 July, 2015

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.

Weekly chart : Divergence is one more proof of weakening of bulls. We also note ADX/RSI.

Day chart: Northern pressure has been preserved and the upper Bollinger band still breaks Highs, so resistance around 2139.0 under load.

Expectations: meanwhile, here we witness growth. Resistance 2139.3 can hold bulls, but in general they have a chance to work in the direction of 2190.6.

Trading decisions

1) It is too early to sell but buying is dangerous too. Nevertheless, those working to buy/sell on trend can try to buy (or not close earlier opened Buy) expecting that the price would reach 2190.6

"Brent" oil

Monthly chart: Meanwhile, our middle-term scenario (decline to 42.64) is proving its worth. Waiting for Iranian oil to enter markets and even more abrupt decline.

Weekly chart: an intermediate support from the bottom Bollinger band (54.05) is holding bears, so we are considering two paths: the price would continue its direction breaking its support (red arrow), or a preliminary pullback to the area of the middle band (62.17, blue arrow)

Day chart even a better shaped resistance on 60.48 (the middle Bollinger band),

Expectations:so, this week support 54.05 can be attacked. But a preliminary pullback in the upward direction is probable 60.48.

Trading decisions:

1) We are keeping sales open. If the price grows to 60.48, we shall add a position to short. Target of this week is 54.05, but we can keep it for the long term to 42.64.

Gold

Monthly chart: load to the support around the bottom Bollinger band (1119.03) is growing. Its loss will bring Gold to get under a critical level 1000 USD per ounce.

Weekly chart the bottom Bollinger envelope has been broken, which is avery good Southern signal. Waiting for the price around the middle band (1187.40) and sell.

Day chart: the bottom envelope has been broken too! The middle band is better shaped on 1167.83.

Expectations: so, gold is going to fall and that is going to take a long time. We can be lucky to get a pullback to 1167.83, where we can sell in the middle term. Targets are around 932.80.

Trading decisions:

1) Waiting for an upward pullback and sell in the area 1167.83.


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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...

Taking a rest

Daily chart: the price has preserved an ascending dynamics towards the upper Bollinger band (124.67). The pair may stay within a flat 123.96-124.17 or break the corridor to the bottom to 123.69 and probably to 123.04...

  


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