Murrey math lines: Brent, S&P 500

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Brent

On H4, Brent quotes have broken the 200-day Moving Average and are now below it, which indicates probable development of a downtrend. However, the RSI is already in the oversold area. As a result, the price is expected to break 2/8 (81.25) and next, reach the resistance at 3/8 (84.38). The scenario can be canceled by a downward breakout of 1/8 (78.12). In this case, the decline of Brent quotes could continue, and the price could drop to the support at 0/8 (75.00).

On M15, the upper line of the VoltyChannel indicator is too far away from the current price, hence, the growth of the quotes will be triggered by an upwards of 2/8 (81.25) on H4.

S&P 500

On H4, the quotes are above the 200-day Moving Average, which reveals the prevalence of an uptrend. The RSI has rebounded from the support line. The price is now expected to rise above 5/8 (4140.6) and net, grow to the resistance at 6/8 (4218.8). The scenario can be canceled by a downward breakout of the support at 4/8 (4062.5), which might lead to a trend reversal and bring the price down to 3/8 (3984.4).

On M15, a breakout of the upper border of VoltyChannel will be an additional signal for price growth.

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