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Murrey Math Lines 24.12.2021 Brent, SP 500

24.12.2021BRENTIn the H4 chart, after breaking the 200day Moving Average, Brent is trading above it, thus indicating an ascending tendency. In this case, the price is expected to test 58, break it, and then continue growing towards the resistance at 68. However, this scenario may no longer be valid if the asset breaks 48 to the downside. After that, the instrument may fall and reach the support at 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.SP 500As we can see in the H4 chart, the SP Index is trading within the overbought area again. In this case, the price is expected to break 18 and then continue trading downwards to reach 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.In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, 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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