Murrey Math Lines 03.09.2021 (Brent, S&P 500)

03.09.2021

Brent

In the H4 chart, Brent is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 7/8 and continue growing towards the resistance at 8/8. However, this scenario may no longer be valid if the asset breaks 6/8 to the downside. After that, the instrument may move downwards and reach the support at 5/8.

BRENT_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 upside line of the VoltyChannel indicator and, as a result, may continue its growth towards 8/8 from 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 also trading above the 200-day Moving Average to indicate an ascending tendency. In this case, the price is expected to continue growing towards the resistance at 3/8. However, this scenario may no longer be valid if the asset breaks 2/8 to the downside. After that, the instrument may fall to reach the support at 1/8.

S&P500_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 upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.

S&P500_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. 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.