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Murrey math lines: Brent, S&P 500

Brent

Brent crude oil quotes are below the 200-day Moving Average on D1, indicating a prevailing downtrend. The RSI is testing the resistance line. In this situation, the price is expected to break the 2/8 (81.25) level, rebound, and fall to the support at 1/8 (78.12). Surpassing the 3/8 (84.38) level could invalidate this scenario, propelling the quotes to the resistance at 4/8 (87.50).

Brent

On M15, a breakout of the VoltyChannel lower line will provide an additional signal for a price decline.

Brent

S&P 500

S&P 500 quotes and the RSI are in the overbought areas on D1. In this situation, the price is expected to breach the +1/8 (5312.5) level and decline to the 8/8 (5000.0) support level. The scenario could be invalidated by surpassing the +2/8 (5625.0) level, which might reshuffle the Murrey indication, setting new price movement targets.

SP 500

On M15, a breakout of the VoltyChannel lower line will increase the probability of a price decline.

SP

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RoboForex Team

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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