Gold, oil and S&P500
S&P500
Weekly chart: ADX is very weak, so we don’t expect that price would leave envelopes (2002.8-2136.1).
Day chart: flat corridor is even better shaped now – 2062.0-2125.9.
Trading decisions:
1) Once intraday short signals occur, we sell from the area 2125.9.
“Brent” oil
Monthly chart: In April bulls were dominating but a general bearish direction is preserved and the price aims to get to the area 48.11. We’ll see how the price will respond to the upper Bollinger band (68.83).
Weekly chart: a strong resistance line is represented by 68.83.
Day chart: is the local support line (and target for this week) – 62.16.
Expectations: So, we are waiting when 68.83 will be touched and price will get down to 62.16.
Trading decisions: We sell from 68.83 to 62.16.
Gold
Monthly chart: an attack to support 1135.46 is possible (the bottom Bollinger band), which will open the way to 1032.24.
Weekly chart: Meanwhile ADX is weak, but bearish direction is present on the chart though.
Day chart: Control support point is – 1177.90. If it stands, the next upturn is possible – to 1212.27. If a breakthrough will happen, we will wait when points 1135.46 and 1032.24 would be reached.
Expectations: I prone to that the point 1177.90 will be broken and price will move down to 1135.46 and 1032.24.
Trading decisions:
Once the point 1177.90 is broken, we will sell to targets to 1135.46 and 1032.24.
Check the website for more information: https://freshforex.com/analitics/fresh-forecast/potencial/week_415.html