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Murrey Math Lines 17.09.2021 (Brent, S&P 500)

BRENT

As we can see in the H4 chart, Brent is trading inside the “overbought area”. In this case, the price is expected to break 8/8 and 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 move upwards and reach the resistance at 2/8.

Murrey Math Lines 17.09.2021 BRENTH4
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 17.09.2021 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 rebounding from the 200-day Moving Average, the S&P Index is trading above it, thus indicating that the correction is over. In this case, the price is expected to resume the uptrend – test 6/8, break it, and then continue trading upwards to reach the resistance at 7/8. However, this scenario may no longer be valid if the asset breaks 4/8 to the downside. After that, the instrument may reverse and fall towards the support at 2/8.

Murrey Math Lines 17.09.2021 S&P 500_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

НIn the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.

Murrey Math Lines 17.09.2021 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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