Murrey Math Lines 11.08.2023 (Brent, S&P 500)

<p><strong>By <a href="https://roboforex.com/" target="_blank" rel="noopener"><u>RoboForex.com</u></a></strong></p>
<p><strong>BRENT</strong></p>
<p>Brent quotes are above the 200-day Moving Average on H4, indicating a prevailing uptrend. The RSI is testing the support line. In these circumstances, the quotes are expected to break the 4/8 (87.50) level and reach the resistance level at 5/8 (90.62). The scenario can be cancelled by a downward breakout of the support at 3/8 (84.38). In this case, the quotes could drop to 2/8 (81.25).</p>
<p><img decoding="async" src="http://roboforex.com/uploads/roboforecast/roboforex_com/99/2023/Murrey/august/11/1.png" alt="BRENTH4" /><br />
<img decoding="async" src="http://roboforex.com/bundles/roboforecast/images/risk-warning/en.png" alt="Risk Warning: the result of previous trading operations do not guarantee the same results in the future " /></p>
<p>On M15, price growth might be additionally supported by a breakout of the upper line of the VoltyChannel.</p>
<p><img decoding="async" src="http://roboforex.com/uploads/roboforecast/roboforex_com/99/2023/Murrey/august/11/2.png" alt="BRENT_M15" /><br />
<img decoding="async" src="http://roboforex.com/bundles/roboforecast/images/risk-warning/en.png" alt="Risk Warning: the result of previous trading operations do not guarantee the same results in the future " /></p>
<p><strong>S&amp;P 500</strong></p>
<p>S&amp;P 500 quotes have broken the 200-day Moving Average on H4 and are now below it, which indicates a potential downtrend. The RSI has rebounded from the resistance line. In this situation, the price is expected to test the 2/8 (4453.1) level, break it, and fall to the support at 1/8 (4414.1). The scenario can be cancelled by a breakout of the resistance at 3/8 (4492.2). In this case, the S&amp;P 500 index could return to 4/8 (4531.2).</p>
<p><img decoding="async" src="http://roboforex.com/uploads/roboforecast/roboforex_com/99/2023/Murrey/august/11/3.png" alt="S&amp;P 500_H4" /><br />
<img decoding="async" src="http://roboforex.com/bundles/roboforecast/images/risk-warning/en.png" alt="Risk Warning: the result of previous trading operations do not guarantee the same results in the future " /></p>
<p>On M15, the lower line of the VoltyChannel is broken, which increases the probability of a further price decline.</p>
<p><img decoding="async" src="http://roboforex.com/uploads/roboforecast/roboforex_com/99/2023/Murrey/august/11/4.png" alt="S&amp;P 500_M15" /></p>
<p><strong>Article By <a href="https://roboforex.com/" target="_blank" rel="noopener"><u>RoboForex.com</u></a></strong></p>
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