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Murrey Math Lines 07.05.2021 (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 pair is expected to break 4/8 and then continue growing towards the resistance at 5/8. However, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may correct downwards and reach the support at 2/8.

Murrey Math Lines 07.05.2021 BRENT_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.

Murrey Math Lines 07.05.2021 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 chart, after completing the correction, the S&P Index is once again approaching the ”overbought area”. In this case, the price is expected to break 8/8 and continue growing towards the resistance at 1/8. However, this scenario may no longer be valid if the price breaks 7/8 to the downside. After that, the instrument may move downwards and return to the support at 6/8.

Murrey Math Lines 07.05.2021  S&P 500_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 pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue the ascending tendency.

Murrey Math Lines 07.05.2021 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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