Murrey Math Lines 09.04.2021 (BRENT, S&P 500)

Article By RoboForex.com

BRENT

On H4, Brent quotations overcome 0/8 and escaped the oversold area. Currently, we expect growth to the resistance level of 2/8. The scenario can be canceled by a breakaway of the support at 0/8 downwards. In this case, the price might drop deeper down to -1/8.

On M15, a breakaway of the upper border of VoltyChannel will increase the probability of further price growth.

S&P 500

On H4, the quotations are trading in the overbought area. Currently, a breakaway of +1/8 can provoke a correctional decline to the nearest support at 8/8. The scenario might be canceled by a breakaway of +2/8 upwards, which will reshuffle the Murrey lines and set new goals of price moves.

On M15, the lower border of VoltyChannel is too far away from the current price, which means the falling will only be signaled by a breakaway of +1/8 on H4.

Article By RoboForex.com

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