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Murrey Math Lines 01.04.2022 Brent, SP 500

01.04.2022BRENTIn the H4 chart, after breaking the 200day Moving Average, Brent is trading below it to indicate a descending tendency. In this case, the price is expected to continue moving downwards to reach the support at 08. However, this scenario may no longer be valid if the asset breaks the resistance at 28 to the upside. After that, the instrument may grow towards 38.As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.SP 500As we can see in the H4 chart, the SP Index is trading above the 200day Moving Average to indicate a possible ascending tendency. In this case, the price is expected to test 78, break it, and then continue growing towards the resistance at 88. However, this scenario may no longer be valid if the asset breaks the support at 68 to the downside. After that, the instrument may reverse and correct down to the next support 58.In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue growing.Back to listAttention!Forecasts presented in this section only reflect the authors private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

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