Home Market Murrey Math Lines 23.12.2022 (Brent, S&P 500)

Murrey Math Lines 23.12.2022 (Brent, S&P 500)

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By RoboForex.com

BRENT

The H4 quotes are below the 200-day Moving Average. This indicates a downtrend. The RSI is now out of the overbought region. Test of 2/8 Expect an 81.25% rise, followed by a breakaway that falls to the support level 1/8 (78.12). This scenario can be canceled by an upwards breakout of the resistance level 3/8 (84.38), which may lead to a trend reversal, and price growth up to the resistance level. 4/8 (87.50).


Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The lower VoltyChannel line is broken away on M15. This confirms the downtrend, and increases the likelihood of further price falls.

BRENT_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

H4 has seen the prices bounce off 0/8 (3750.0), the upper limit of the area that is oversold. The resistance line is being tested at the RSI. The quotes will likely rise above 1/8 (3906.22) and reach the resistance level 2/8 (4062.5). This scenario can be canceled by a decrease in the support level 0/8 (3750.0). In this case, the S&P 500 index will continue falling, and the quotes might reach -1/8 (3593.8).

S&P 500_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

A breakaway at the upper VoltyChannel boundary will signal growth on M15.

S&P 500_M15

Article By RoboForex.com

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