Murrey Math Lines 03.09.2021 (Brent, S&P 500)
Brent
In the H4 chart, Brent is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 7/8 and continue growing towards the resistance at 8/8. However, this scenario may no longer be valid if the asset breaks 6/8 to the downside. After that, the instrument may move downwards and reach the support at 5/8.
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 its growth towards 8/8 from the H4 chart.
S&P 500
In the H4 chart, the S&P Index is also trading above the 200-day Moving Average to indicate an ascending tendency. In this case, the price is expected to continue growing towards the resistance at 3/8. However, this scenario may no longer be valid if the asset breaks 2/8 to the downside. After that, the instrument may fall to reach the support at 1/8.
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.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.