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Murrey Math Lines 06.05.2022 Brent, SP 500

06.05.2022BRENTIn the H4 chart, Brent is trading above the 200day Moving Average to indicate a possible ascending tendency. In this case, the price is expected to break 48 and then continue moving upwards to reach the resistance at 68. However, this scenario may no longer be valid if the asset breaks the support at 38 to the downside. After that, the instrument may reverse and return to 18.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, the SP Index is trading below the 200day Moving Average to indicate a descending tendency. In this case, the price is expected to break 18 and continue falling towards the support at 18. However, this scenario may no longer be valid if the asset breaks the resistance at 28 to the upside. After that, the instrument may reverse and grow to reach 48.As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, 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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