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Murrey Math Lines 14.08.2020 (Brent, S&P 500)

14.08.2020

BRENT

As we can see in the H4 chart, Brent is moving above 5/8. In this case, the price is expected to rebound from 6/8 and then resume trading upwards to reach the resistance at 8/8. 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.

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.

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 breaking 3/8, the Index is consolidating. In this case, the asset is expected to continue growing towards the closest resistance at 4/8. However, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may resume falling to reach the support at 2/8.

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.

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

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.


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