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Old 28-07-2014, 11:57
Fresh Fresh is offline
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Default re: FreshForex - freshforex.com

S&P500, oil and platinum. Weekly review
S&P500


Monthly chart: bulls continue to put a pressure, but in general uptrend looks like almost fully exhausted. Key resistance is based on 2050,7, from where reversal or a significant correction will take place with a high probability.

Weekly chart: oscillator's divergence confirms that reversal is close to come. Nevertheless, we are waiting for new highs to be reached before.

Day chart: divergence is also strong here, besides, resistance from the upper Bollinger band (1991.4) is still working. Support is based at 1956.6 ( bottom Bollinger band).

Conclusion: main scenario is descend from current levels to 1956.6 and a further growth to1991.4. Another option is the direct growth to 2050.7

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