Murrey Math Lines 11.09.2020 (Brent, S&P 500)
Brent
On H4, Brent is trading in the oversold area. We expect the quotations to break 8/8, which may provoke further growth to the resistance at 2/8. The scenario may be canceled by a breakaway of -1/8, which will make the quotations fall to the support at -2/8.
On M15, further growth of the price is additionally supported by a breakaway of the upper line of VoltyChannel.
S&P 500
On H4, S&P 500 returned into the consolidation area. This makes growth to 4/8 highly probable. The scenario may be canceled by a breakaway of 3/8 top-down, which will bring the price deeper down to the support at 2/8.
On M15, a breakaway of the upper border of VoltyChannel increases the probability of growth to 4/8 on H4.
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.