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Murrey Math Lines 26.06.2020 (Brent, S&P 500)

Brent

As we can see in the H4 chart, Brent is moving between 6/8 and 7/8. In this case, the price is expected to test 7/8, rebound from it, and then resume trading downwards to reach the support at 5/8. However, this scenario may no longer be valid if the price breaks 7/8 to the upside. After that, the instrument may continue growing towards the resistance at 8/8.

Murrey Math Lines 26.06.2020 BRENT_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the asset may break the downside line of the VoltyChannel indicator and, as a result, continue the descending tendency.

Murrey Math Lines 26.06.2020 BRENT_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

As we can see in the H4 chart, the Index has broken the “overbought area”; right now, it is moving below 8/8. In this case, the price is expected to break 7/8 and then continue falling to reach the support at 6/8. However, this scenario may no longer be valid if the price breaks 8/8 to the upside. After that, the instrument may continue growing towards the resistance at 1/8.

Murrey Math Lines 26.06.2020 S&P 500_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the asset may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards to reach 6/8 from the H4 chart.

Murrey Math Lines 26.06.2020 S&P 500_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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