Murrey Math Lines 09.12.2022 (Brent, S&P 500)

December 9, 2022

By RoboForex.com

BRENT

On H4, the quotes of Brent oil are below the 200-day Moving Average, which indicates the prevalence of a downtrend. However, the RSI is already in the oversold area. A test of 0/8 (75.00) should be expected, followed by a bounce off it and growth to the resistance level of 2/8 (81.25). The scenario can be cancelled by a downward breakaway of the support level of 0/8 (75.00). In the case, the quotes may fall to -1/8 (71.88).


On M15, the upper line of VoltyChannel is too far away from the current price, which means growth of the quotes will be initiated by a bounce off 0/8 on H4.



Free Reports:

Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.





Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter





S&P 500

On H4, the S&P 500 quotes have dropped under the 200-day Moving Average again, indicating a downtrend. The RSI is testing the resistance line. In the end, a downward breakaway of the support level of 1/8 (3906.2) should be expected, followed by falling to 0/8 (3750.0). The scenario can be cancelled by rising over the resistance level of 2/8 (4062.5). This might lead to a trend reversal and growth of the quotes to 3/8 (4218.8).


On M15, an additional signal confirming the decline will be a bounce off the lower line of VoltyChannel.


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.

InvestMacro

Share
Published by
InvestMacro

Recent Posts

UHS, LRCX & LDOS top latest Large Cap Stocks that made our Watchlist in October

By InvestMacro Research The fourth quarter of 2024 is about halfway over and today we…

4 hours ago

The Trump presidency will exacerbate international relations, especially concerning China and Europe

By JustMarkets At the end of Wednesday, the Dow Jones Index (US30) was up 3.57%.…

11 hours ago

Gold Retreats as Trump Victory Bolsters USD

By RoboForex Analytical Department  Gold prices tumbled over 3% to 2650 USD per troy ounce…

11 hours ago

USDJPY Hits 14-Week High Amid US Election Dynamics

By RoboForex Analytical Department  The USDJPY pair has surged to a 14-week peak, touching 153.83…

1 day ago

EURUSD Stabilises as US Presidential Election Unfolds

By RoboForex Analytical Department EURUSD remains poised around 1.0878 as markets brace for the outcome…

2 days ago

Stock indices rise on weak US labor market report. In Switzerland, there is a further decline in inflation

By JustMarkets On Friday, the Dow Jones (US30) rose 0.69% (for the week -0.50%). The…

3 days ago

This website uses cookies.