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Murrey Math Lines 05.11.2021 Brent, SP 500

05.11.2021BRENTAs we can see in the H4 chart, after rebounding from 48, Brent is expected to break the closest resistance at 58 and then continue growing towards 68. However, this scenario may no longer be valid if the asset breaks 48 to the downside. After that, the instrument may resume falling 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, continue trading upwards.SP 500In the H4 chart, the SP Index is trading above the 200day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 48 and then continue trading upwards to reach the resistance at 58. However, this scenario may no longer be valid if the asset breaks 38 to the downside. After that, the instrument may correct towards the support at 28.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 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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