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Murrey Math Lines 18.09.2020 (Brent, S&P 500)

BRENT

In the H4 chart, Brent has broken the 200-day moving average, thus indicating that the current descending tendency may transform into a new ascending one. However, according to Murrey Math lines, the asset is consolidating. In this case, later the price is expected to grow towards the resistance at 5/8 and then start a new correction. However, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may continue falling towards the support at 1/8.

Murrey Math Lines 18.09.2020 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 upside line of the VoltyChannel indicator and, as a result, may continue the ascending tendency.

Murrey Math Lines 18.09.2020 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 below the 200-day moving average, thus indicating a descending tendency. In this case, the asset is expected to continue falling towards the target at 0/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may continue growing to reach the resistance at 5/8.

Murrey Math Lines 18.09.2020 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 price has broken the downside line of the VoltyChannel indicator and, as a result, may continue its decline.

Murrey Math Lines 18.09.2020 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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