AnalysisForex

Murrey Math Lines 18.06.2021 (Brent, S&P 500)

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Brent

As see can see in the H4 chart, Brent is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 6/8 and then continue growing towards the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may move downwards and reach the support at 4/8.



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

In the M15 chart, the upside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may resume growing only after breaking 6/8 from the H4 chart.

Brent_M15

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

S&P 500

As we can see in the H4 chart, the S&P Index is trading above the 200-day Moving Average, thus indicating an ascending tendency, and has already broken 4/8. In this case, the price is expected to continue growing towards the resistance at 5/8. However, this scenario may no longer be valid if the price breaks 4/8 to the downside. After that, the instrument may fall to reach the support at 3/8.

S&P 500_H4

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

in the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.

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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