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Murrey Math Lines 10.07.2020 (Brent, S&P 500)

Brent

In the H4 chart, after rebounding from the resistance at 8/8, Brent is expected to resume falling towards the support at 5/8. However, this scenario may no longer be valid if the price breaks 8/8 to the upside. After that, the instrument may continue growing to reach the resistance at 1/8.

Murrey Math Lines 10.07.2020 BRENT_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the M15 chart, the asset has broken the downside line of the VoltyChannel indicator and, as a result, may continue the descending tendency.

Murrey Math Lines 10.07.2020 BRENT_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

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 1/8 to the upside. After that, the instrument may continue growing towards the resistance at 2/8.

Murrey Math Lines 10.07.2020 S&P 500_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the M15 chart, the asset has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards to reach 7/8 from the H4 chart.

Murrey Math Lines 10.07.2020 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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