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Murrey Math Lines 24.09.2021 Brent, SP 500

24.09.2021BRENTIn the H4 chart, Brent is trading inside the overbought area. In this case, the price is expected to test 28, rebound from it, and resume falling towards the support at 88. However, this scenario may no longer be valid if the asset breaks 28 to the upside. After that, the lines in the chart will be redrawn, thus helping us to define new upside targets.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 28 from the H4 chart.SP 500In the H4 chart, after breaking the 200day Moving Average, the SP Index is trading above it, thus indicating an ascending tendency. In this case, the price is expected to break 28 and then continue trading upwards to reach the resistance at 38. However, this scenario may no longer be valid if the asset breaks the Moving Average to the downside. After that, the instrument may reverse and fall towards 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.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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