Murrey Math Lines 17.07.2020 (Brent, S&P 500)
Brent
As we can see in the H4 chart, after rebounding from 8/8 again, Brent is expected to resume falling towards the support at 7/8. However, this scenario may no longer be valid if the price breaks 8/8 to the upside. After that, the instrument may continue growing to reach the resistance at +1/8.
In the M15 chart, the asset may break the downside line of the VoltyChannel indicator and, as a result, continue the descending tendency.
S&P 500
In the H4 chart, the Index is moving above 5/8. In this case, the price is expected to rebound from 6/8 and then resume growing to reach the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may continue falling towards the support at 5/8.
As we can see in the M15 chart, the asset has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards to reach 7/8 from the H4 chart.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.