Brent
Brent quotes are in the overbought area on H4. The RSI has formed a divergence. As a result, in this situation a downward breakout of +1/8 (82.81) is expected, followed by a decline to the support level of 7/8 (79.69). The scenario can be cancelled by rising above the resistance at +2/8 (84.38), which will reshuffle the Murray lines so that new price targets could be set.
On M15, the decline could be additionally confirmed by a breakout of the lower boundary of the VoltyChannel.
S&P 500
S&P 500 quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI is nearing the support line. Currently, a rebound from 2/8 (4531.2) is expected, followed by a rise to the resistance at 3/8 (4609.8). The scenario can be cancelled by a downward breakout of the support at 2/8 (4531.2). In this case, the index could correct to 1/8 (4453.1).
On M15, the upper boundary of the VoltyChannel is too far from the current price, so the beginning of price growth could be indicated by a rebound off 2/8 (4531.2) on H4.
