Murrey Math Lines 11.09.2020 (Brent, S&P 500)
Brent
On H4, Brent is trading in the oversold area. We expect the quotations to break 8/8, which may provoke further growth to the resistance at 2/8. The scenario may be canceled by a breakaway of -1/8, which will make the quotations fall to the support at -2/8.
On M15, further growth of the price is additionally supported by a breakaway of the upper line of VoltyChannel.
S&P 500
On H4, S&P 500 returned into the consolidation area. This makes growth to 4/8 highly probable. The scenario may be canceled by a breakaway of 3/8 top-down, which will bring the price deeper down to the support at 2/8.
On M15, a breakaway of the upper border of VoltyChannel increases the probability of growth to 4/8 on H4.
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.