Murrey Math Lines 22.01.2021 (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 7/8, rebound from it, and then resume growing to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 7/8 to the downside. After that, the instrument may continue falling towards the support at 6/8.

In the M15 chart, the price is quite far away from the upside line of the VoltyChannel indicator, that’s why it may resume growing only after rebounding from the 7/8 from the H4 chart.

S&P 500

As we can see in the H4, the S&P Index is moving above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the asset is expected to break 7/8 and then continue growing towards the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 7/8 to the downside. After that, the instrument may correct downwards to reach 5/8.

In the M15 chart, the price may break the upside line of the VoltyChannel indicator and, as a result, continue the ascending tendency.