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Murrey Math Lines 11.06.2021 (Brent, S&P 500)

Brent

As see can see in the H4 chart, Brent is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 6/8 and then continue growing towards 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 correct downwards and reach the support at 4/8.

Murrey Math Lines 11.06.2021 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 the ascending tendency.

Murrey Math Lines 11.06.2021 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, the S&P Index is trading above the 200-day Moving Average, thus indicating an ascending tendency, and has already broken the resistance 1/8. In this case, the price is expected to continue growing towards 2/8. However, this scenario may no longer be valid if the price breaks 8/8 to the downside. After that, the instrument may correct downwards to reach the support at 6/8.

Murrey Math Lines 11.06.2021 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 trading upwards.

Murrey Math Lines 11.06.2021 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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