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Murrey Math Lines 29.04.2022 Brent, SP 500

29.04.2022BRENTIn the H4 chart, after breaking the 200day Moving Average, Brent is trading above at above it to indicate a possible ascending tendency. In this case, the price is expected to test 28, break it, and then continue moving upwards to reach the resistance at 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 return to 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 500As we can see in the H4 chart, the SP Index is trading below the 200day Moving Average to indicate a descending tendency. In this case, the price is expected to break 28 and continue falling towards the support at 08. However, this scenario may no longer be valid if the asset breaks the resistance at 38 to the upside. After that, the instrument may reverse and grow to reach 58.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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