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Murrey Math Lines 15.10.2021 Brent, SP 500

15.10.2021BRENTIn the H4 chart, Brent is trading above the 200day Moving Average, thus indicating an ascending tendency; at the moment, it is breaking 38 to the upside. In this case, the price is expected to continue growing towards the resistance at 48. However, this scenario may no longer be valid if the asset breaks 28 to the downside. After that, the instrument may resume falling and reach the support at 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 500As we can see in the H4 chart, after breaking the 200day Moving Average to the upside, the SP Index is trading above it, thus indicating an ascending tendency. In this case, the price is expected to break 68 and then continue trading upwards to reach the resistance at 78. However, this scenario may no longer be valid if the asset breaks 58 to the downside. After that, the instrument may fall towards the support at 48.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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