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Murrey Math Lines 05.11.2021 (Brent, S&P 500)

05.11.2021

BRENT

As we can see in the H4 chart, after rebounding from 4/8, Brent is expected to break the closest resistance at 5/8 and then continue growing towards 6/8. However, this scenario may no longer be valid if the asset breaks 4/8 to the downside. After that, the instrument may resume falling and reach the support at 3/8.

USDCHFH4
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 upside line of the VoltyChannel indicator and, as a result, continue trading upwards.

USDCHF_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 break 4/8 and then continue trading upwards to reach the resistance at 5/8. However, this scenario may no longer be valid if the asset breaks 3/8 to the downside. After that, the instrument may correct towards the support at 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 upside line of the VoltyChannel indicator and, as a result, may continue its growth.

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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