RoboForex - Analytics

RoboForex

863.75 5.25/10
93% of positive reviews
Real
How to join the service?

Murrey Math Lines 16.02.2024 (Brent, S&P 500)

Brent

Brent quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI is testing the support line. In this situation, the quotes are expected to rise above the 5/8 (82.81) level, subsequently reaching the resistance at 6/8 (84.38). The scenario could be cancelled by a breakout of the 4/8 (81.25) level. In this case, Brent quotes might drop to the support at 3/8 (79.69).

Murrey Math Lines 16.02.2024 Brent
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the upper boundary of the VoltyChannel is broken. This increases the probability of further price growth.

Murrey Math Lines 16.02.2024 Brent
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The S&P 500 quotes are in the overbought area on H4. The RSI is nearing the resistance line. In this situation, a rebound from the 1/8 (5039.1) level is expected, followed by a decline to the support at 6/8 (4921.9). The scenario could be cancelled by rising above 1/8 (5039.1). In this case, the index might rise to the resistance at 2/8 (5078.1).

Murrey Math Lines 16.02.2024 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the price decline could be additionally confirmed by a breakout of the lower boundary of the VoltyChannel.

Murrey Math Lines 16.02.2024 S&P 500
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.


To leave a comment you must or Join us


By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree