Murrey math lines: Brent, S&P 500
|BRENT
As we can see in the H4 chart, Brent is moving above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the asset is expected to break 5/8 and then continue growing towards the resistance at 6/8. However, this scenario may no longer be valid if the price breaks 4/8 to the downside. After that, the instrument may reverse and correct downwards to reach the support at 3/8.
In the M15 chart, the price may break the upside line of the VoltyChannel indicator once again and, as a result, continue the ascending tendency.
S&P 500
As we can see in the H4 chart, the Index is moving above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the asset is expected to break 5/8 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 continue moving downwards to reach the support at 4/8.
In the M15 chart, the price may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.
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