Murrey Math Lines 27.05.2022 (Brent, S&P 500)

May 27, 2022

BRENT

In the H4 chart, Brent is trading above the 200-day Moving Average to indicate a possible ascending tendency. In this case, the price is expected to test 6/8, break it, and then continue moving upwards to reach the resistance at 7/8. 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 return to 3/8.

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.

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S&P 500

As we can see in the H4 chart, the S&P Index is trading below the 200-day Moving Average to indicate a descending tendency. In this case, the price is expected to rebound from 2/8 and resume falling towards the support at 0/8. However, this scenario may no longer be valid if the asset breaks the resistance at 2/8 to the upside. After that, the instrument may reverse and grow to reach 3/8.

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline.

Article By RoboForex.com

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Murrey Math Lines 27.05.2022 (Brent, S&P 500)