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Murrey Math Lines 23.12.2022 (Brent, S&P 500)

BRENT

On H4, the quotes are under the 200-day Moving Average, which indicates prevalence of a downtrend. The RSI has exited the overbought area. A test of 2/8 (81.25) should be expected, followed by a breakaway and falling to the support level of 1/8 (78.12). The scenario can be cancelled by an upwards breakaway of the resistance level of 3/8 (84.38), which might lead to a trend reversal and price growth to the resistance level of 4/8 (87.50).

Murrey Math Lines 23.12.2022 BRENTH4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the lower line of VoltyChannel is broken away, which confirms the downtrend and increases the chances for further price falling.

Murrey Math Lines 23.12.2022 BRENT_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

On H4, the quotes have bounced off 0/8 (3750.0), which is the upper border of the oversold area. The RSI is testing the resistance line. The quotes are expected to rise above 1/8 (3906.2) and then reach the resistance level of 2/8 (4062.5). The scenario can be cancelled by a downward breakaway of the support level of 0/8 (3750.0). In this case, the S&P 500 index will continue falling, and the quotes might reach -1/8 (3593.8).

Murrey Math Lines 23.12.2022 S&P 500_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, an additional signal confirming growth will be a breakaway of the upper border of VoltyChannel.

Murrey Math Lines 23.12.2022 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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