Murrey Math Lines 20.11.2020 (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.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.