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Murrey Math Lines 08.10.2021 (Brent, S&P 500)

BRENT

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 test 7/8, break it, and continue growing towards the resistance at 8/8. However, this scenario may no longer be valid if the asset breaks 6/8 to the downside. After that, the instrument may resume falling and reach the support at 5/8.

Murrey Math Lines 08.10.2021 BRENTH4
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 08.10.2021 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 5/8 to the downside, the S&P Index is consolidating again. In this case, the price is expected to continue trading downwards to reach the support at 4/8. However, this scenario may no longer be valid if the asset breaks 5/8 to the upside. After that, the instrument may grow towards the resistance 6/8.

Murrey Math Lines 08.10.2021 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, may continue its decline.

Murrey Math Lines 08.10.2021 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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