Brent
As we can see in the H4 chart, Brent is moving between 6/8 and 7/8. In this case, the price is expected to test 7/8, 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 upside. After that, the instrument may continue growing towards the resistance at 8/8.
In the M15 chart, the asset may break the downside line of the VoltyChannel indicator and, as a result, continue the descending tendency.
S&P 500
As we can see in the H4 chart, the Index has broken the “overbought area”; right now, it is moving below 8/8. In this case, the price is expected to break 7/8 and then continue falling to reach the support at 6/8. 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 6/8 from the H4 chart.
