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Murrey Math Lines 22.04.2022 Brent, SP 500

22.04.2022BRENTIn the H4 chart, Brent is trading above at 200day Moving Average to indicate a possible sideways tendency. Yesterday bears attempted to break 18 but failed bulls were stronger, so the price is currently moving above this level. In this case, the price is expected to test the resistance at 28, break it, and then continue moving upwards to reach 38. However, this scenario may no longer be valid if the asset breaks the support at 18 to the downside. After that, the instrument may reverse and fall towards 08.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 500In the H4 chart, after breaking the 200day Moving Average, the SP Index is trading below it to indicate a descending tendency. In this case, the price is expected to break 48 and continue 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 reverse and grow to reach the resistance at 68.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 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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