Murrey Math Lines 28.10.2022 (Brent, S&P 500)
BRENT
On H4, the quotes have broken through the 200-day Moving Average and are now resting above it, which indicates an uptrend. The RSI is testing the the support level. Currently, we should expect the quotes to rise over 7/8 (96.88) and then grow to the resistance level of 8/8 (100.00). The scenario can be cancelled by a breakaway of 6/8 (93.75) downwards. In this case, the quotes may drop to the support level of 5/8 (90.62).
On M15, the upper line of VoltyChannel is broken, which increases the probability of price growth.
S&P 500
On H4, the quotes are going under the 200-day Moving Average, indicating the prevalence of a downtrend. The RSI bounced off the resistance level. Currently, a breakaway of the support level downwards is expected at 0/8 (3750.0), followed by falling to -1/8 (3593.8). The scenario can be cancelled by a downward breakaway of the resistance level at 1/8 (3906.2). In this case, the quotes may reach 2/8 (4062.5).
On M15, the lower line of VoltyChannel is broken, confirming the downtrend and a high probability of further price falling.
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