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Murrey Math Lines 01.10.2021 Brent, SP 500

01.10.2021BRENTAs we can see in the H4 chart, Brent is trading inside the overbought area. In this case, the price is expected to test 18, break it, and continue falling towards the support at 88. However, this scenario may no longer be valid if the asset breaks 28 to the upside. After that, the lines in the chart will be redrawn, thus helping us to define new upside targets.In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, may continue its decline.SP 500In the H4 chart, the SP Index is trading below the 200day Moving Average, thus indicating a descending tendency. In this case, the price is expected to break 18 and then continue trading 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 correct towards 48.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.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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