Brent Crude OilShort
Brent Oil Resistance Rejection Idea
Description: Brent oil is approaching a key resistance level. This level previously acted as support, but after being broken, it has now turned into resistance. If the price revisits this area, there’s a high probability of rejection based on past price action.
Trade Idea:
Watch for the price to approach the resistance level.
If there are signs of rejection (e.g., bearish candlestick patterns or declining momentum), this could be a good opportunity for a short position.
Set a stop-loss slightly above the resistance level in case the price breaks through.
Potential target: Previous support level.
Trade Idea:
Watch for the price to approach the resistance level.
If there are signs of rejection (e.g., bearish candlestick patterns or declining momentum), this could be a good opportunity for a short position.
Set a stop-loss slightly above the resistance level in case the price breaks through.
Potential target: Previous support level.
WiVERIDERS
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
WiVERIDERS
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.