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Murrey Math Lines 21.01.2022 (Brent, S&P 500)

BRENT

In the H4 chart, after breaking 8/8, Brent is no longer trading within the “overbought area”. In this case, the price is expected to continue correcting downwards to reach the support at 7/8. However, this scenario may no longer be valid if the asset breaks 8/8 to the upside. After that, the instrument may grow towards the resistance at +1/8.



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.



S&P 500

In the H4 chart, the S&P Index is trading below the 200-day Moving Average, thus indicating a possible descending tendency. In this case, the price is expected to break 1/8 and then continue trading downwards to reach the support at 0/8. However, this scenario may no longer be valid if the asset breaks 2/8 to the upside. After that, the instrument may grow towards the resistance at 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 its decline.



Source: Roboforex

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