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Murrey Math Lines 18.03.2022 Brent, SP 500

18.03.2022BRENTIn the H4 chart, Brent is trading above the 200day Moving Average to indicate an ascending tendency. In this case, the price is expected to test 68, break it, and then continue moving upwards to reach the resistance at 78. However, this scenario may no longer be valid if the asset breaks the support at 58 to the downside. After that, the instrument may fall towards 38.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 growing.SP 500In the H4 chart, after breaking the 200day Moving Average, the SP Index is trading above it to indicate a possible ascending tendency. In this case, the price is expected to rebound from 48 and then resume growing towards the resistance at 58. However, this scenario may no longer be valid if the asset breaks the support at 48 to the downside. After that, the instrument may reverse and fall to reach 38.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 upwards.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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