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Murrey Math Lines 13.11.2020 (Brent, S&P 500)

13.11.2020

BRENT

As we can see in the H4 chart, Brent is moving above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the asset is expected to test 3/8, rebound from it, and then resume growing to reach the resistance at 5/8. However, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may reverse and resume falling towards the support at 2/8.

BRENT_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the price is moving quite far away from the upside line of the VoltyChannel indicator, that’s why the pair may resume growing only after a rebound from 3/8 in the H4 chart.

BRENT_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

As we can see in the H4 chart, the Index is moving above the 200-day Moving Average, thus indicating an ascending tendency. At the moment, the price is rebounding from 5/8 and may later resume growing towards 6/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may correct downwards to reach the support at 4/8.

S&P 500_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the price is moving quite far away from the upside line of the VoltyChannel indicator, that’s why one should go by the forecast for the H4 chart.

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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