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Murrey Math Lines 17.07.2020 (Brent, S&P 500)

Brent

As we can see in the H4 chart, after rebounding from 8/8 again, Brent is expected to resume falling towards 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 to reach the resistance at 1/8.

Murrey Math Lines 17.07.2020 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 downside line of the VoltyChannel indicator and, as a result, continue the descending tendency.

Murrey Math Lines 17.07.2020 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 moving above 5/8. In this case, the price is expected to rebound from 6/8 and then resume growing to reach the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may continue falling towards the support at 5/8.

Murrey Math Lines 17.07.2020 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 upside line of the VoltyChannel indicator and, as a result, may continue trading upwards to reach 7/8 from the H4 chart.

Murrey Math Lines 17.07.2020 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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