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Murrey Math Lines 14.04.2023 (Brent, S&P 500)

14.04.2023

Brent

On H4, the quotes are above the 200-day Moving Average, which indicates the prevalence of an uptrend. The RSI is testing the support line. In this situation, the quotes are expected to rise above 4/8 (87.50) and reach the resistance at 5/8 (90.62). The scenario can be canceled by a downward breakout of 3/8 (84.38), which could make the quotes drop to the support at 2/8 (81.25).

Brent_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, a breakout of the upper border of the VoltyChannel indicator will increase the probability of further price growth.

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 are above the 200-day Moving Average, which indicates the prevalence of an uptrend. The RSI has broken the support line. As a result, we should expect the price to rise to the resistance at 6/8 (4218.8). The scenario can be canceled by a downward breakout of the support at 5/8 (4140.6). In this case, the index could drop to 4/8 (4062.5).

S&P500_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the upper line of VoltyChannel is broken, which confirms the prevalence of an uptrend and a high probability of further price growth.

S&P500_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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