Murrey math lines: Brent, S&P 500
|Brent
In the H4 chart, Brent is trading below the 200-day Moving Average, thus indicating a possible descending tendency. In this case, the price is expected to test 3/8, break it, and then continue moving downwards to reach the support at 2/8. However, this scenario may no longer be valid if the asset breaks the resistance at 4/8 to the upside. After that, the instrument may reverse and grow towards 5/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue its decline.
S&P 500
As we can see in the H4 chart, the S&P Index is trading at 0/8. In this case, the price is expected to rebound from this level and resume growing towards the resistance at 2/8. However, this scenario may no longer be valid if the asset breaks the support at 0/8 to the downside. After that, the instrument may reverse and fall to reach -1/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.
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