Murrey math lines: Brent, S&P 500

RoboForex Team RoboForex

Brent

Brent quotes have broken below the 200-day Moving Average on D1, indicating the potential development of a downtrend. However, convergence has formed on the RSI. As a result, in this situation, the price is expected to surpass the 3/8 (84.38) level and rise to the resistance at 4/8 (87.50). The scenario could be cancelled by breaking below the 2/8 (81.25) level. In this case, Brent quotes might decline to the support at 1/8 (78.12).

On M15, the upper line of the VoltyChannel is broken, which increases the probability of a price rise.

S&P 500

S&P 500 quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. However, the RSI has reached the overbought area. As a result, in this situation, the price is expected to rebound from the 6/8 (5312.5) level and fall to the support at 5/8 (5156.2). The scenario could be cancelled by rising above 6/8 (5312.5). In this case, the S&P 500 quotes might reach the 7/8 (5468.8) resistance level.

On M15, the price decline could be additionally supported by a breakout of the lower line of the VoltyChannel.

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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.

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