Murrey Math Lines 13.11.2020 (Brent, S&P 500)

BRENT

As we can see in the H4 chart, Brent is moving above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the asset is expected to test 3/8, rebound from it, and then resume growing to reach the resistance at 5/8. However, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may reverse and resume falling towards the support at 2/8.

In the M15 chart, the price is moving quite far away from the upside line of the VoltyChannel indicator, that’s why the pair may resume growing only after a rebound from 3/8 in the H4 chart.

S&P 500

As we can see in the H4 chart, the Index is moving above the 200-day Moving Average, thus indicating an ascending tendency. At the moment, the price is rebounding from 5/8 and may later resume growing towards 6/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may correct downwards to reach the support at 4/8.

In the M15 chart, the price is moving quite far away from the upside line of the VoltyChannel indicator, that’s why one should go by the forecast for the H4 chart.