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Murrey Math Lines 06.08.2021 Brent, SP 500

06.08.2021BRENTOn H4, Brent quotations have broken through the 200days Moving Average and are trading below it, which indicates a probable breakout of a downtrend. Currently, we expect a test of 68 and a bounce off it, followed by falling to the support level of 48. Tye scenario can be canceled by rising over 68. In this case, oil price may rise to the resistance level of 78.On M15, the lower border of VoltyChannel is broken. This increases the probability of falling.SP 500On H4, the quotations are trading above the 200days MA, which means the uptrend is prevailing. In this case, we should expect growth to the resistance level of 28. The scenario can be canceled by a breakaway of 18 downwards. This might provoke falling to 88.On M15, the upper line of VoltyChannel is broken, which confirms the activity of the uptrend and a high probability of further price 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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