28 Oct

Murrey Math Lines 28.10.2022 (Brent, S&P 500)

October 28, 2022

Article By RoboForex.com

BRENT

On H4, the quotes have broken through the 200-day Moving Average and are now resting above it, which indicates an uptrend. The RSI is testing the the support level. Currently, we should expect the quotes to rise over 7/8 (96.88) and then grow to the resistance level of 8/8 (100.00). The scenario can be cancelled by a breakaway of 6/8 (93.75) downwards. In this case, the quotes may drop to the support level of 5/8 (90.62).

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

On M15, the upper line of VoltyChannel is broken, which increases the probability of price growth.

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

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S&P 500

On H4, the quotes are going under the 200-day Moving Average, indicating the prevalence of a downtrend. The RSI bounced off the resistance level. Currently, a breakaway of the support level downwards is expected at 0/8 (3750.0), followed by falling to -1/8 (3593.8). The scenario can be cancelled by a downward breakaway of the resistance level at 1/8 (3906.2). In this case, the quotes may reach 2/8 (4062.5).

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

On M15, the lower line of VoltyChannel is broken, confirming the downtrend and a high probability of further price falling.

S&P 500_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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.


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