Murrey Math Lines 17.06.2022 (Brent, S&P 500)

June 17, 2022

Article By RoboForex.com

BRENT

On H4, Brent quotes have bounced off the 200-days Moving Average and are trading above it, indicating the end of the correction and the continuation of the uptrend. A test of 7/8 is to be expected, followed by a breakaway and growth to the resistance level of 8/8. The scenario can be cancelled by a breakaway of the support level at 6/8 downwards. In this case, the quotes can return to 5/8.

BRENTH4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, growth can be additionally confirmed by a breakaway upwards of the upper line of VoltyChannel.

BRENT_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

On H4, the quotes rest in the overbought area. A test of 0/8 is expected, followed by a breakaway and growth to the resistance level of 2/8. The scenario can be cancelled by a breakaway of the support at -1/8 downwards. This might entail further falling to -2/8.


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S&P 500_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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

S&P 500_M15

Article By RoboForex.com

Attention!
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.