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Murrey Math Lines 10.12.2021 Brent, SP 500

10.12.2021BRENTIn the H4 chart, Brent is trading below the 200day Moving Average, thus indicating a descending tendency. In this case, the price is expected to test 48, rebound from it, and then resume falling towards the support at 28. However, this scenario may no longer be valid if the asset breaks 48 to the upside. After that, the instrument may continue growing and reach 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 trading downwards.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 test 78, rebound from it, and then resume trading upwards to reach the resistance at 18. However, this scenario may no longer be valid if the asset breaks 78 to the downside. After that, the instrument may correct and reach the support at 68.As we can see in the M15 chart, the upside line of the VoltyChannel indicator is pretty far away from the price, thats why the pair may resume trading upwards only after rebounding from 78 in the H4 chart.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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