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Murrey Math Lines 22.01.2021 (Brent, S&P 500)

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 7/8, rebound from it, and then resume growing to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 7/8 to the downside. After that, the instrument may continue falling towards the support at 6/8.

Murrey Math Lines 22.01.2021 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 is quite far away from the upside line of the VoltyChannel indicator, that’s why it may resume growing only after rebounding from the 7/8 from the H4 chart.

Murrey Math Lines 22.01.2021 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 break 7/8 and then continue growing towards the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 7/8 to the downside. After that, the instrument may correct downwards to reach 5/8.

Murrey Math Lines 22.01.2021 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 may break the upside line of the VoltyChannel indicator and, as a result, continue the ascending tendency.

Murrey Math Lines 22.01.2021 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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