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Murrey Math Lines 05.02.2021 (Brent, S&P 500)

BRENT

As we can see in the H4 chart, Brent is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the asset is expected to break 6/8 and then continue moving upwards to reach the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may continue consolidating and falling towards the support at 4/8.

Murrey Math Lines 05.02.2021 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 may break the upside line of the VoltyChannel indicator and, as a result, continue the ascending tendency.

Murrey Math Lines 05.02.2021 BRENT_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

In the H4, the S&P Index is trading above the 200-day Moving Average close to its all-time highs, thus indicating an ascending tendency. In this case, the asset is expected to continue growing towards the next resistance at 8/8. However, this scenario may no longer be valid if the price break 7/8 to the downside. After that, the instrument may correct downwards and reach the support at 6/8.

Murrey Math Lines 05.02.2021 XAUUSD_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 upside line of the VoltyChannel indicator and, as a result, may continue its growth.

Murrey Math Lines 05.02.2021 XAUUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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