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Murrey Math Lines 08.10.2021 Brent, SP 500

08.10.2021BRENTIn the H4 chart, Brent is trading above the 200day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to test 78, break it, and continue growing towards the resistance at 88. However, this scenario may no longer be valid if the asset breaks 68 to the downside. After that, the instrument may resume falling and reach the support at 58.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 500As we can see in the H4 chart, after breaking 58 to the downside, the SP Index is consolidating again. In this case, the price is expected to continue trading downwards to reach the support at 48. However, this scenario may no longer be valid if the asset breaks 58 to the upside. After that, the instrument may grow towards the resistance 68.In the M15 chart, the pair may break 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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