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Murrey Math Lines 04.12.2020 (BRENT, S&P 500)

BRENT

On H4, oil quotations are trading above the 200-days Moving Average, revealing the prevalence of an uptrend. However, the price is nearing the overbought area. Hence, we are expecting a test of 8/8, a bounce off it, and falling to the support level of 6/8. The scenario will no longer be valid if 8/8 is broken away. In this case, the trend will continue to 1/8.

Murrey Math Lines 04.12.2020  BRENT_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the lower line of the VoltyChannel indicator is too far from the price, that is why a decline will be supported by a bounce off 8/8 on H4.

Murrey Math Lines 04.12.2020 BRENT_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

On H4, oil quotations are trading above the 200-days Moving Average, revealing the prevalence of an uptrend. We are expecting them to go on by the trend, aiming at 8/8. The scenario might be canceled by a breakaway of 7/8 top-down, which will entail a correctional decline to the support at 6/8.

Murrey Math Lines 04.12.2020  S&P 500_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the upper border of VoltyChannel is broken away. This confirms the uptrend and the probability of further growth to 8/8 on H4.

Murrey Math Lines 04.12.2020 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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