BRENT
In the H4 chart, Brent is consolidating between 3/8 and 5/8; right now, it is rebounding from 3/8. In this case, the pair is expected to resume growing towards the resistance at 5/8. However, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may reverse downwards and reach the support at 2/8.
As we can see in the M15 chart, the downside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may resume the ascending tendency only after rebounding from 3/8 from the H4 chart.
S&P 500
In the H4 chart, the S&P Index is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 7/8 and continue growing towards the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may move downwards to reach the support at 5/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue the ascending tendency.
