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Murrey Math Lines 15.01.2021 (Brent, S&P 500)

BRENT

As we can see in the H4 chart, Brent has reached the “overbought area”. In this case, the asset is expected to break 8/8 and then correct downwards to reach the support at 6/8. However, this scenario may no longer be valid if the price breaks 1/8 to the upside. After that, the instrument may continue growing towards the resistance at 2/8.

Murrey Math Lines 15.01.2021 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 has broken the downside line of the VoltyChannel indicator again and, as a result, continue the descending tendency.

Murrey Math Lines 15.01.2021 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, the S&P Index is moving above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the asset is expected to rebound from 5/8 and then c resume growing towards its all-time highs at 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 to reach the support at 4/8.

Murrey Math Lines 15.01.2021 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 quite far away from the upside line of the VoltyChannel indicator, that’s why it may resume growing only after rebounding from the 5/8 from the H4 chart.

Murrey Math Lines 15.01.2021 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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