Weekly review: gold, S&P500, Brent oil

27 July, 2015

S&P500

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

Weekly chart: support on the bottom Bollinger band is still relevant (2048.4). It seems, that a further decline appears to be possible only after one more correction.

Day chart: flat from Bollinger envelopes. We are waiting when the index reaches support 2043.3 and bounces to the middle band (2090.0)

Expectations: drop to 2043.4 and bounce to 2090.0.

Solutions:

1) Sell to 2043.4

2) Buy from 2043.4 to 2090.0

"Brent" oil

Monthly chart: Bears are actively penetrating the June inside bar and continue to focus on the bottom Bollinger band (42.64)

Weekly chart: local support at 54.73 can be some hindrance, but ADX is active, so we are waiting for a further breakdown.

Day chart: more localized support at 53.56 may slightly correct the price, but the overall descending scenario regarding oil is obvious.

Expectations: this week 53.56 can be reached and a small upward correction prior to a new decline to the medium-term target 42.64.

Solutions:

1) Keep Sell trade open to 53.56 and 42.6

Gold

Monthly chart: pressure on the support from the bottom Bollinger band is growing, ADX is close to the trendline area. Everything shows readiness of gold to fall in the near future under the psychologically important level of $ 1,000 per ounce and leave in its price only three digits before the decimal point.

At the same time, we can not exclude one more pre-correction towards the middle Bollinger band zone.

Weekly chart: the lower envelope is broken , which is a strong short signal. We are waiting the gold in the middle band(1180.70) and a medium- to sell with the targets set below 1000.00.

Day chart: the price has just knocked the bottom envelope. The middle Bollinger band is more localized - 1147.42.

Expectations: an upward correction to 1147.42 and beginning of a medium-term decline with the target around 950.00.

Solutions:

1) We shall sell from 1147.42.


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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)...


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...

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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