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Murrey Math Lines 11.03.2022 Brent, SP 500

11.03.2022BRENTIn the H4 chart, Brent is trading above the 200day Moving Average to indicate an ascending tendency. In this case, the price is expected to break 18 and then continue moving upwards to reach the resistance at 28. However, this scenario may no longer be valid if the asset breaks the support at 08 to the downside. After that, the instrument may correct down to 18.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 continue trading upwards only after breaking 18 in the H4 chart.SP 500As we can see in 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 28 and then continue falling towards the support at 18. However, this scenario may no longer be valid if the asset breaks the resistance at 38 to the upside. After that, the instrument may reverse and grow to reach 48.In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.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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