$BRENT at 78.35 - pushing resistance or just noise?

asked by u/riku91 · 24d · 2 answers

Looking at $BRENT pushing into the 78.35 area today. This level has been pretty sticky on the daily, acting as resistance for a bit now. If it can hold above 78.50 on a closing basis, we might see some follow-through higher, but I'm wary of a possible fakeout given the speed of the recent move; a close back below 77.50 would suggest this pop is just noise and invalidates any immediate bullish case I'm considering. Could be a decent scalp setup if it consolidates, but I'm not seeing conviction for a sustained breakout just yet.

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Top answers

  • u/mller_sara· 1 pts· 23d

    Definitely agree on watching that 78.50 close. I'm also keeping an eye on the volume; if it's not there to support the break, it's more likely to be a head fake than a sustained move.

  • u/dcastro· 1 pts· 23d

    Definitely watching that 78.50 mark closely. It does feel like a pretty critical level, and a break there could indeed signal more, but I'm with you on the fakeout concern. Have you checked the volume on this move up? Could give us a clue.

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