BRENT OIL is moving to key level
CL_Brent weekly overview
Price is moving to key level $80.41. Also, it is 2 - months high. Near that level, I will wait for my price action signal. Such levels are keys because many traders hide their stops upper it and have set pending orders.
I have 2 scenarios which I will use:
1. I will look for short ONLY, If the price will make fake broke of $80.41 and H1 - H4 close under it. From that zone, rice can move down to $70 - $72.
2. If the price will break up $80.41 and H1-H4 will close upper it, that will be a signal that exchange rate will continue up move.
Price is moving to key level $80.41. Also, it is 2 - months high. Near that level, I will wait for my price action signal. Such levels are keys because many traders hide their stops upper it and have set pending orders.
I have 2 scenarios which I will use:
1. I will look for short ONLY, If the price will make fake broke of $80.41 and H1 - H4 close under it. From that zone, rice can move down to $70 - $72.
2. If the price will break up $80.41 and H1-H4 will close upper it, that will be a signal that exchange rate will continue up move.
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