Weekly Review. S&P500, Brent, gold | 10 Maret 2017

S&P500


Monthly chart: ADX is getting stronger and stronger, and index is getting more overbought. Bears have waited for reversal for a long time and such a set-up may be profitable for them. Of course, it is likely to take quite a lot of time considering the time frame.


Weekly Review. S&P500, Brent, gold


Weekly chart: here we have a very active ADX at its extreme along with overbought RSI. Local resistance level is in 2401.5 region (upper Bollinger band). Bulls may try to attack this level but not likely to reserve it to themselves.


Weekly Review. S&P500, Brent, gold


Daily chart: buyers may aim at 2409.4 (upper Bollinger band). ADX/RSI shows significant weakening of uptrend, although Friday was closed with false breakout of bearish inside bar.


Weekly Review. S&P500, Brent, gold


Expectations: rise towards 2409.4 followed by reversal to the downside.


Solutions:

1. Consider buying towards 2409.4

2. Consider selling from 2409.4 (in case of additional signals)


Brent


Monthly chart: at the moment oil matches our expectations of flat within upper Bollinger envelope (48.79-63.03)


Weekly Review. S&P500, Brent, gold


Weekly chart: there is number of supports - 53.95, 48.79, 46.39. All these supports are potential bullish targets, as ADX supports trend continuation.


Although, if bears won't let bulls break lower than 53.95, we may see new attempt to break 60.77.


Weekly Review. S&P500, Brent, gold


Daily chart: we see here local static flat of 55.00-57.10 (Bollinger bands range). ADX is weak, so we are not likely to see any changes here.


Weekly Review. S&P500, Brent, gold


Expectations:

Core scenario - flat in 55.00-57.10

Alternative scenario - drop to 53.95


Solutions: consider selling from 57.10 to 55.00 or 53.95


Gold


Monthly chart: gold is in flat around middle Bollinger band (1215.13). ADX is passive, there is no reason whatsoever for mid-term shots.


Weekly Review. S&P500, Brent, gold


Weekly chart: local trading range is within 1121.99-1302.40 region (Bollinger envelopes range), which is not bad for weekly trading. Moreover, here we have aggressive bearish ADX.


Weekly Review. S&P500, Brent, gold


Daily chart: bulls have advantage on this chart (they also closed Friday session with their pinbar). Bulls may also try to attack 1257.34.


Against the background of different tendencies on weekly and daily charts, we may conclude that if bears break Friday low, we may see active drop towards 1121.99


Weekly Review. S&P500, Brent, gold


Expectations:

Core scenario - rise to 1257.34

Alternative scenario - decline to 1204.58 (with mid-term target at 1121.99)


Solutions:


1. Consider buying to 1257.34

2. Consider selling from 1257.34 to 1204.58

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Analis perusahaan "FreshForex"
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