Murrey Math Lines 21.08.2020 (Brent, S&P 500)
BRENT
As we can see in the H4 chart, Brent is rebounding from 6/8. In this case, the price is expected to continue trading upwards to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may continue falling towards the closest support at 5/8.
In the M15 chart, the asset may break the upside line of the VoltyChannel indicator and, as a result, continue the ascending tendency.
S&P 500
In the H4 chart, the Index is moving above 5/8. In this case, the asset is expected to break 7/8 and continue growing towards the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may resume falling to reach the support at 5/8.
As we can see in the M15 chart, the asset has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.
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