Murrey Math Lines 15.10.2021 (Brent, S&P 500)
BRENT
In the H4 chart, Brent is trading above the 200-day Moving Average, thus indicating an ascending tendency; at the moment, it is breaking 3/8 to the upside. In this case, the price is expected to continue growing towards the resistance at 4/8. However, this scenario may no longer be valid if the asset breaks 2/8 to the downside. After that, the instrument may resume falling and reach the support at 1/8.
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&P 500
As we can see in the H4 chart, after breaking the 200-day Moving Average to the upside, the S&P Index is trading above it, thus indicating an ascending tendency. In this case, the price is expected to break 6/8 and then continue trading upwards to reach the resistance at 7/8. However, this scenario may no longer be valid if the asset breaks 5/8 to the downside. After that, the instrument may fall towards the support at 4/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, may continue its decline.
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