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Murrey Math Lines 27.11.2020 (Brent, S&P 500)

BRENT

In the H4 chart, there’s been a “false” breakout of 7/8. In this case, the asset is expected to correct downwards within the rising channel to reach the support at 5/8. However, this scenario may no longer be valid if the price breaks 7/8 to the upside. After that, the instrument may continue growing towards the resistance at 8/8.

Murrey Math Lines 27.11.2020  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 price has broken the downside line of the VoltyChannel indicator and, as a result, continue the descending tendency towards 5/8 from the H4 chart.

Murrey Math Lines 27.11.2020 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. In this case, the asset is expected to continue growing towards the closest resistance at 7/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may correct downwards to reach the support at 5/8.

Murrey Math Lines 27.11.2020 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 may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.

Murrey Math Lines 27.11.2020 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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