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Murrey Math Lines 03.12.2021 Brent, SP 500

03.12.2021BRENTAs we can see in the H4 chart, Brent is trading below the 200day Moving Average, thus indicating a descending tendency. In this case, the price is expected to test 38, rebound from it, and then resume falling towards the support at 18. However, this scenario may no longer be valid if the asset breaks 38 to the upside. After that, the instrument may continue growing and reach the resistance at 58.In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.SP 500As we can see in the H4 chart, after breaking 58, the SP Index is no longer trading within the consolidation range. In this case, the price is expected to continue trading upwards to reach the resistance at 68. However, this scenario may no longer be valid if the asset breaks 58 to the downside. After that, the instrument may fall and reach the support at 38.In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, may continue its growth.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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