Murrey Math Lines 28.01.2022 (Brent, S&P 500)

BRENT

In the H4 chart, Brent is trading above the 200-day Moving Average, thus indicating a possible ascending tendency. In this case, the price is expected to break 5/8 and then continue moving upwards to reach the resistance at 6/8. However, this scenario may no longer be valid if the asset breaks 4/8 to the downside. After that, the instrument may fall towards the support at 3/8.

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 trading upwards.

S&P 500

As we can see in the H4 chart, the S&P Index is within the “oversold area”. In this case, the price is expected to break 0/8 and then continue trading upwards to reach the resistance at 2/8. However, this scenario may no longer be valid if the asset breaks the support at -1/8 to the downside. After that, the instrument may fall towards -2/8.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.

Source: Roboforex

Technical Analysis & Forecast 16.04.2024

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