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Murrey Math Lines 24.12.2021 (Brent, S&P 500)

24.12.2021

BRENT

In the H4 chart, after breaking the 200-day Moving Average, Brent is trading above it, thus indicating an ascending tendency. In this case, the price is expected to test 5/8, break it, and then continue growing towards the resistance at 6/8. However, this scenario may no longer be valid if the asset breaks 4/8 to the downside. After that, the instrument may fall and reach the support at 3/8.

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

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, the S&P Index is trading within the “overbought area” again. In this case, the price is expected to break 1/8 and then continue trading downwards to reach the support at 8/8. However, this scenario may no longer be valid if the asset breaks 2/8 to the upside. After that, the lines in the chart will be redrawn, thus helping us to define new upside targets.

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 its decline.

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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