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Murrey Math Lines 28.08.2020 (Brent, S&P 500)

Brent

As we can see in the H4 chart, after rebounding from 6/8, Brent is growing towards 7/8. In this case, later the price is expected to break the latter level and continue 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 closest support at 5/8.

Murrey Math Lines 28.08.2020 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.

Murrey Math Lines 28.08.2020 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 inside the “overbought area”. In this case, the asset is expected to rebound from 2/8 and resume falling towards the support at 1/8. However, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the lines at the chart will be redrawn, thus helping to define new upside targets.

Murrey Math Lines 28.08.2020 S&P500_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 price is quite far away from the upside line of the VoltyChannel indicator, that’s why only a rebound from the 2/8 on the H4 chart may signal a new decline.

Murrey Math Lines 28.08.2020 S&P500_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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