Murrey Math Lines 09.09.2022 (Brent, S&P 500)
BRENT
On H4, the quotes have bounced off the oversold area. They now are expected to rise over 1/8 and grow to the resistance level of 2/8. This movement should be interpreted as a correction of a downtrend. The scenario can be cancelled by a downward breakaway of the support level of 0/8. In this case, the quotes will start falling again and may drop to the support level of -1/8.
On M15, growth can be additionally supported by a breakaway of the upper line of VoltyChannel.
S&P 500
On MH4, the quotes are under the 200-day Moving Average, which means they are in a downtrend. A test of 2/8 is expected, followed by a bounce off it and falling to the support level of 0/8. The scenario can be cancelled by rising over the resistance level of 2/8. In this case, the quotes may rise to 3/8.
On M15, a breakaway of the lower border of VoltyChannel will increase the probability of falling.
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