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Murrey Math Lines 03.07.2020 (Brent, S&P 500)

Brent

In the H4 chart, Brent is expected to continue growing towards the resistance at 8/8, 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 downside. After that, the instrument may reach the support at 5/8 without testing 8/8.

Murrey Math Lines 03.07.2020 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 upside line of the VoltyChannel indicator and, as a result, continue the ascending tendency towards 8/8 from the H4 chart.

Murrey Math Lines 03.07.2020 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 is still moving inside the “overbought area”. In this case, the price is expected to break 8/8 and then continue falling to reach the support at 7/8. 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 03.07.2020 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 7/8 from the H4 chart.

Murrey Math Lines 03.07.2020 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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