Murrey math lines: Brent, S&P 500
Brent
On H4, the quotes are above the 200-day Moving Average, which indicates the prevalence of an uptrend. The RSI is testing the support line. In this situation, the quotes are expected to rise above 4/8 (87.50) and reach the resistance at 5/8 (90.62). The scenario can be canceled by a downward breakout of 3/8 (84.38), which could make the quotes drop to the support at 2/8 (81.25).
On M15, a breakout of the upper border of the VoltyChannel indicator will increase the probability of further price growth.
S&P 500
On H4, the quotes are above the 200-day Moving Average, which indicates the prevalence of an uptrend. The RSI has broken the support line. As a result, we should expect the price to rise to the resistance at 6/8 (4218.8). The scenario can be canceled by a downward breakout of the support at 5/8 (4140.6). In this case, the index could drop to 4/8 (4062.5).
On M15, the upper line of VoltyChannel is broken, which confirms the prevalence of an uptrend and a high probability of further price growth.
Author
RoboForex Team
RoboForex
RoboForex Team is a group of professional financial experts with high experience on financial market, whose main purpose is to provide traders with quality and up-to-date market information.
