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Murrey Math Lines 06.05.2022 (Brent, S&P 500)

06.05.2022

BRENT

In the H4 chart, Brent is trading above the 200-day Moving Average to indicate a possible ascending tendency. In this case, the price is expected to break 4/8 and then continue moving upwards to reach the resistance at 6/8. However, this scenario may no longer be valid if the asset breaks the support at 3/8 to the downside. After that, the instrument may reverse and return 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 pair has broken the upside 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

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 1/8 and continue falling towards the support at -1/8. However, this scenario may no longer be valid if the asset breaks the resistance at 2/8 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

As we can see in the M15 chart, the pair has broken 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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