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Murrey Math Lines 02.07.2021 (Brent, S&P 500)

Brent

As see can see in the H4 chart, Brent is trading within the “overbought area”. In this case, the price is expected to break 8/8 and resume falling towards the support at 7/8. However, this scenario may no longer be valid if the price breaks 1/8 to the upside. After that, the instrument may move upwards and reach the resistance at 2/8.

Murrey Math Lines 02.07.2021 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 downside line of the VoltyChannel indicator and, as a result, continue its decline.

Murrey Math Lines 02.07.2021 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. In this case, the price is expected to test 7/8, break it, and then continue growing towards the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may correct to reach the support at 5/8.

Murrey Math Lines 02.07.2021 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 pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.

Murrey Math Lines 02.07.2021 XAUUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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