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Murrey Math Lines 26.11.2021 Brent, SP 500

26.11.2021BRENTIn the H4 chart, Brent is trading close to the downside border of the range. In this case, the price is expected to rebound from 38 and then resume growing towards the resistance at 58. However, this scenario may no longer be valid if the asset breaks 38 to the downside. After that, the instrument may continue falling and reach the support at 18.As we can see in the M15 chart, the upside line of the VoltyChannel indicator is pretty far away from the price, thats why the pair may resume the ascending tendency only after rebounding from 38 in the H4 chart.SP 500In the H4 chart, the SP Index is consolidating between 38 and 58; by now, it has already broken 48 to the downside. In this case, the price is expected to continue trading downwards to reach the support at 38. However, this scenario may no longer be valid if the asset breaks 48 to the upside. After that, the instrument may update its alltime high and reach the resistance at 58.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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