Murrey math lines: Brent, S&P 500

Brent

In the H4 chart, Brent is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to break 2/8 and continue moving downwards to reach the support at 0/8. However, this scenario may no longer be valid if the asset breaks 3/8 to the upside. After that, the instrument may reverse and grow towards the resistance at 4/8.

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue its decline.

S&P 500

In the H4 chart, the S&P Index is also trading below the 200-day Moving Average to indicate a possible descending tendency. In this case, the price is expected to break 2/8 and continue falling towards the support at 0/8. However, this scenario may no longer be valid if the asset breaks the resistance at 2/8 to the upside. After that, the instrument may reverse and grow to reach 3/8.

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.

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