Murrey Math Lines 13.11.2020 (Brent, S&P 500)
BRENT
As we can see in the H4 chart, Brent is moving above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the asset is expected to test 3/8, rebound from it, and then resume growing to reach the resistance at 5/8. However, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may reverse and resume falling towards the support at 2/8.
In the M15 chart, the price is moving quite far away from the upside line of the VoltyChannel indicator, that’s why the pair may resume growing only after a rebound from 3/8 in the H4 chart.
S&P 500
As we can see in the H4 chart, the Index is moving above the 200-day Moving Average, thus indicating an ascending tendency. At the moment, the price is rebounding from 5/8 and may later resume growing towards 6/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may correct downwards to reach the support at 4/8.
In the M15 chart, the price is moving quite far away from the upside line of the VoltyChannel indicator, that’s why one should go by the forecast for the H4 chart.
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.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.