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Murrey Math Lines 30.07.2021 (Brent, S&P 500)

30.07.2021

BRENT

As we 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 continue falling towards the closest support at 7/8. However, this scenario may no longer be valid if the asset breaks 1/8 to the upside. After that, the instrument may move upwards and reach the resistance at 2/8.

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.

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 also trading within the “overbought area”. In this case, the price is expected to test 8/8, break it, and then continue falling towards the support at 7/8. However, this scenario may no longer be valid if the asset breaks 1/8 to the upside. After that, the instrument may grow to reach 2/8.

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 downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.

S&P 500_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.


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