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Murrey Math Lines 11.03.2022 (Brent, S&P 500)

11.03.2022

BRENT

In the H4 chart, Brent is trading above the 200-day Moving Average to indicate an ascending tendency. In this case, the price is expected to break 1/8 and then continue moving upwards to reach the resistance at 2/8. However, this scenario may no longer be valid if the asset breaks the support at 0/8 to the downside. After that, the instrument may correct down to -1/8.

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 upside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may continue trading upwards only after breaking 1/8 in the H4 chart.

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 below the 200-day Moving Average to indicate a descending tendency. In this case, the price is expected to break 2/8 and then continue falling towards the support at 1/8. However, this scenario may no longer be valid if the asset breaks the resistance at 3/8 to the upside. After that, the instrument may reverse and grow to reach 4/8.

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 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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