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Murrey Math Lines 16.07.2021 (Brent, S&P 500)

Brent

In the H4 chart, after breaking the 200-day Moving Average, Brent is trading below it, thus indicating a descending tendency. In this case, the price is expected to test 6/8, break it, and then continue falling towards the support at 5/8. However, this scenario may no longer be valid if the price breaks 7/8 to the upside. After that, the instrument may move upwards and reach the resistance at 8/8.

Murrey Math Lines 16.07.2021 Brent_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 downside line of the VoltyChannel indicator and, as a result, may continue its decline.

Murrey Math Lines 16.07.2021 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 chart, after breaking 8/8, the S&P Index has left the “overbought area”, thus indicating a correctional decline. In this case, the price is expected to test 7/8, break it, and then continue falling towards the support at 6/8. However, this scenario may no longer be valid if the price breaks 8/8 to the upside. After that, the instrument may grow to reach the resistance at 1/8.

Murrey Math Lines 16.07.2021 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 pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.

Murrey Math Lines 16.07.2021  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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