Murrey Math Lines 26.11.2021 (Brent, S&P 500)

26.11.2021

BRENT

In the H4 chart, Brent is trading close to the downside border of the range. In this case, the price is expected to rebound from 3/8 and then resume growing towards the resistance at 5/8. However, this scenario may no longer be valid if the asset breaks 3/8 to the downside. After that, the instrument may continue falling and reach the support at 1/8.

BRENTH4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the M15 chart, the upside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may resume the ascending tendency only after rebounding from 3/8 in the H4 chart.

BRENT_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

In the H4 chart, the S&P Index is consolidating between 3/8 and 5/8; by now, it has already broken 4/8 to the downside. In this case, the price is expected to continue trading downwards to reach the support at 3/8. However, this scenario may no longer be valid if the asset breaks 4/8 to the upside. After that, the instrument may update its all-time high and reach the resistance at 5/8.

S&P 500_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue its decline.

S&P 500_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

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.