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Murrey Math Lines 19.11.2021 Brent, SP 500

19.11.2021BrentIn the H4 chart, after breaking the 200day Moving Average, Brent is trading below it, thus indicating a possible descending tendency. In this case, the price is expected to test 58, rebound from it, and then resume falling towards the support at 38. However, this scenario may no longer be valid if the asset breaks 58 to the upside. After that, the instrument may continue growing and reach the resistance at 78.As we can see in the M15 chart, the downside line of the VoltyChannel indicator is pretty far away from the price, thats why the pair may resume the descending tendency only after rebounding from 58 from the H4 chart.SP 500In the H4 chart, the SP Index is still trading above the 200day Moving Average, thus indicating an ascending tendency. The situation is quite stable as the asset continues growing slowly but steadily. In this case, the price is expected to continue trading upwards to reach the closest resistance at 58. However, this scenario may no longer be valid if the asset breaks 48 to the downside. After that, the instrument may correct towards the support at 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 its growth.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…

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