Murrey Math Lines 25.03.2022 (Brent, S&P 500)

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BRENT

As we can see in the H4 chart, Brent is trading above the 200-day Moving Average to indicate an ascending tendency. In this case, the price is expected to test 4/8, break it, and then continue moving upwards to reach the resistance at 5/8. However, this scenario may no longer be valid if the asset breaks the support at 3/8 to the downside. After that, the instrument may fall towards 1/8.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue growing.

S&P 500

In the H4 chart, after breaking the 200-day Moving Average, the S&P Index is trading above it to indicate a possible ascending tendency. In this case, the price is expected to break 6/8 and then continue growing towards the resistance at 8/8. However, this scenario may no longer be valid if the asset breaks the support at 5/8 to the downside. After that, the instrument may reverse and fall to reach 4/8.

As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.

Article By RoboForex.com

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