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Murrey Math Lines 04.02.2022 Brent, SP 500

04.02.2022BRENTIn the H4 chart, Brent is trading above the 200day Moving Average, thus indicating a possible ascending tendency. In this case, the price is expected to break 68 and then continue moving upwards to reach the resistance at 78. However, this scenario may no longer be valid if the asset breaks 58 to the downside. After that, the instrument may correct towards the support at 38.As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.SP 500In the H4 chart, after rebounding from the 200day Moving Average, the SP Index is trading below it to indicate a descending tendency. In this case, the price is expected to rebound from 28 and then resume trading downwards to reach the support at 08. However, this scenario may no longer be valid if the asset breaks 38 to the upside. After that, the instrument may grow towards the resistance at 58.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 its decline.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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