Murrey Math Lines 17.09.2021 (Brent, S&P 500)
BRENT
As we can see in the H4 chart, Brent is trading inside the “overbought area”. In this case, the price is expected to break 8/8 and continue falling towards the support at 7/8. However, this scenario may no longer be valid if the asset breaks +1/8 to the upside. After that, the instrument may move upwards and reach the resistance at +2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline.
S&P 500
As we can see in the H4 chart, after rebounding from the 200-day Moving Average, the S&P Index is trading above it, thus indicating that the correction is over. In this case, the price is expected to resume the uptrend – test 6/8, break it, and then continue trading upwards to reach the resistance at 7/8. However, this scenario may no longer be valid if the asset breaks 4/8 to the downside. After that, the instrument may reverse and fall towards the support at 2/8.
НIn the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.
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.
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