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Analysis

Murrey Math Lines 09.12.2022 (Brent, S&P 500)

BRENT

On H4, the quotes of Brent oil are below the 200-day Moving Average, which indicates the prevalence of a downtrend. However, the RSI is already in the oversold area. A test of 0/8 (75.00) should be expected, followed by a bounce off it and gro…

BRENT

On H4, the quotes of Brent oil are below the 200-day Moving Average, which indicates the prevalence of a downtrend. However, the RSI is already in the oversold area. A test of 0/8 (75.00) should be expected, followed by a bounce off it and growth to the resistance level of 2/8 (81.25). The scenario can be cancelled by a downward breakaway of the support level of 0/8 (75.00). In the case, the quotes may fall to -1/8 (71.88).

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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 too far away from the current price, which means growth of the quotes will be initiated by a bounce off 0/8 on H4.

BRENT_M15

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

S&P 500

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On H4, the S&P 500 quotes have dropped under the 200-day Moving Average again, indicating a downtrend. The RSI is testing the resistance line. In the end, a downward breakaway of the support level of 1/8 (3906.2) should be expected, followed by falling to 0/8 (3750.0). The scenario can be cancelled by rising over the resistance level of 2/8 (4062.5). This might lead to a trend reversal and growth of the quotes to 3/8 (4218.8).

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 the decline will be a bounce off the lower line of VoltyChannel.

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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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