Murrey Math Lines 18.02.2022 (Brent, S&P 500)
BRENT
As we can see in the H4 chart, Brent is trading above the 200-day Moving Average, thus indicating a possible ascending tendency. In this case, the price is expected to test 4/8, break it, and then continue moving upwards to reach the resistance at 5/8. However, this scenario may no longer be valid if the asset breaks 3/8 to the downside. After that, the instrument may correct towards the support at 2/8.
in the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.
S&P 500
As we can see in the H4 chart, the S&P Index is trading below the 200-day Moving Average to indicate a descending tendencyж right now, it is rebounding from the support at 0/8. In this case, the price is expected to correct towards the resistance at 2/8. However, this scenario may no longer be valid if the asset breaks 0/8 to the downside. After that, the instrument may fall to reach the support at -1/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth to reach 2/8 in the H4 chart.
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