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Old 04-08-2014, 12:05
Fresh Fresh is offline
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Join Date: Aug 2013
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Default re: FreshForex -

S&P500, oil and platinum. Weekly review

Monthly chart: so, we see that the foundation of correction has been laid. The index is based deeply in the overbought zone. Divergence plays in hands of bears so that they can fully break the uptrend.

But now there is still a probability that one more upward dash (the last one) will take place in the direction of the upper Bollinger band (2062.8). Support is now based on the middle line (1716.5)

Weekly chart: support is on the middle band (1925.4) and resistance is at the point of 2003.4
Day chart: a reversal is coming into a full force here. Resistance is at the middle Bollinger band (1970.5). From here we can look into sales. A local support is based at 1906.1
Conclusion: we expect that support 1906.1 will be touched, rollback to 1970.5 and continuation of the downward movement will take place in the direction of 1716.5
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