Brent
Brent crude oil quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI have broken the support line. In this situation, a test of 4/8 (87.50) is expected, followed by a rebound from this level and a rise to the resistance at 6/8 (90.62). The scenario can be cancelled by a breakout of 5/8 (89.06). In this case the quotes could aim at the resistance at 6/8 (90.62).
On M15, after a rebound from 4/8 (87.50), the price rise could be additionally confirmed a breakout of the upper boundary of the VoltyChannel.
S&P 500
S&P 500 quotes have broken the 200-day Moving Average and rest below it, which indicates a probable development of a downtrend. The RSI is testing the resistance level. In these circumstances, a rebound from 2/8 (4453.1) is expected, followed by a drop to the support level of 1/8 (4414.1). The scenario can be cancelled by rising above the resistance at 2/8 (4453.1). In this case, the instrument could return to 3/8 (4492.)
On M15, the lower boundary of the VoltyChannel is broken, which increases the probability of a further price drop.
