Brent
Brent quotes have broken the 200-day Moving Average on H4 and currently rest below it, indicating probable development of a downtrend. However, the RSI is already in the oversold area. As a result, in this situation, a test of 1/8 (82.81) is expected, followed by a rebound from this level and a rise to the resistance at 3/8 (85.94). The scenario can be cancelled by a downward breakout of 1/8 (82.81). In this case, crude oil quotes could continue falling, and the price might drop to the support at 0/8 (81.25).
On M15, the upper boundary of the VoltyChannel is too far from the current price, so the price growth could be supported by a rebound from 1/8 (82.81) on H4.
S&P 500
S&P 500 quotes are under the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI has rebounded from the resistance line. In these circumstances, a rebound from the 2/8 (4218.8) level is expected, followed by a decline to the support level of 1/8 (4140.6). The scenario can be cancelled by a rebound from the resistance at 3/8 (4296.9). In this case, the S&P 500 index could reach 4/8 (4375.0).
On M15, the price decline could be supported by a breakout of the lower line of the VoltyChannel.
