Murrey math lines: Brent, S&P 500
|Brent
Brent quotes are below the 200-day Moving Average on H4, indicating the prevalence of a downtrend. The RSI has rebounded from the resistance line. In this situation, the price is expected to rebound from 3/8 (85.94) and drop to the support of 1/8 (82.81). The scenario can be cancelled by rising above the 3/8 (85.94) mark. In this case, Brent quotes might climb to the resistance at 5/8 (89.06).
On M15, a breakout of the lower boundary of the VoltyChannel could increase the probability of a further price decline.
S&P 500
The stock index quotes are below the 200-day Moving Average on H4, indicating the prevalence of a downtrend. The RSI has broken the support line. In this situation, the price is expected to continue falling to the nearest level of 3/8 (4296.9). The scenario can be cancelled by rising above the resistance level of 4/8 (4375.0), which could lead to a trend reversal and a price rise to 5/8 (4453.1).
On M15, the lower boundary of the VoltyChannel is broken, which increases the probability of a price decline.
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