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Murrey Math Lines 24.07.2020 (Brent, S&P 500)

Brent

In the H4 chart, Brent is trading at 8/8. In this case, the price is expected to break this level to the downside and continue falling towards the support at 6/8. However, this scenario may no longer be valid if the price breaks 1/8 to the upside. After that, the instrument may continue growing to reach the resistance at 2/8.

Murrey Math Lines 24.07.2020  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 24.07.2020  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, after rebounding from 6/8, the Index is expected to fall towards 5/8. In this case, the price may reach this level, break it, and then continue falling towards the support at 4/8. However, this scenario may no longer be valid if the price rebounds from 5/8 to the upside. After that, the instrument may resume growing towards the resistance at 6/8.

Murrey Math Lines 24.07.2020  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.

Murrey Math Lines 24.07.2020  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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