Murrey Math Lines 10.06.2022 (Brent, S&P 500)
BRENT
As we can see in the H4 chart, after testing 8/8 earlier, Brent has rebounded from it. In this case, the price is expected to break 7/8 and continue moving downwards to reach the support at 6/8. However, this scenario may no longer be valid if the asset breaks the resistance at 8/8 to the upside. After that, the instrument may reverse and grow towards +1/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading downwards.
S&P 500
In the H4 chart, the S&P Index is trading below the 200-day Moving Average to indicate a descending tendency. In this case, the price is expected to test 1/8, break it, and then continue falling towards the support at 0/8. However, this scenario may no longer be valid if the asset breaks the resistance at 2/8 to the upside. After that, the instrument may reverse and grow to reach 3/8.
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.
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