BRENT
In the H4 chart, Brent is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the pair is expected to break 7/8 and then continue growing towards the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may correct downwards to reach 5/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue the ascending tendency.
S&P 500
As we can see in the H4, the S&P Index has broken 0/8, thus leaving the “oversold area”. In this case, the price may break 1/8 and then continue growing towards the resistance at 2/8. However, this scenario may no longer be valid if the price breaks 0/8 to the downside. After that, the instrument may fall and reach the support at -1/8.
As we can see in the M15 chart, the upside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may continue the ascending tendency only after breaking 1/8 from the H4 chart.
