Brent
Brent quotes are hovering below the 200-day Moving Average on H4, revealing a prevailing downtrend. The RSI is approaching the overbought area. In this situation, the price is expected to test the 2/8 (78.12) level, rebound from it, and fall to the support at 0/8 (75.00). The scenario can be cancelled by rising above 2/8 (78.12). In this case, the quotes could rise to the resistance at 4/8 (81.25).
On M15, following a rebound from 2/8 (78.12), the price decline could be additionally supported by a breakout of the lower line of the VoltyChannel.
S&P 500
S&P 500 quotes and the RSI are in the overbought areas on H4. In such circumstances, the quotes are expected to test the +1/8 (4765.6) level, rebound from it, and decline to the support at 7/8 (4609.4). The scenario can be cancelled by surpassing the +1/8 (4765.6) level. In this case, the S&P 500 index growth might continue, with the price reaching the resistance at +2/8 (4843.8).
On M15, following a rebound from +1/8 (4765.6), the price decline could be additionally supported by a breakout of the lower line of the VoltyChannel.
