Brent
In the H4 chart, Brent is expected to continue growing towards the resistance at 8/8, rebound from it, and then resume trading downwards to reach the support at 5/8. However, this scenario may no longer be valid if the price breaks 7/8 to the downside. After that, the instrument may reach the support at 5/8 without testing 8/8.
In the M15 chart, the asset may break the upside line of the VoltyChannel indicator and, as a result, continue the ascending tendency towards 8/8 from the H4 chart.
S&P 500
As we can see in the H4 chart, the Index is still moving inside the “overbought area”. In this case, the price is expected to break 8/8 and then continue falling to reach the support at 7/8. However, this scenario may no longer be valid if the price breaks 8/8 to the upside. After that, the instrument may continue growing towards the resistance at +1/8.
In the M15 chart, the asset may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards to reach 7/8 from the H4 chart.
