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BRENT approaching a decision point, watching 72.50
It looks like $BRENT is getting close to testing that 72.50 area again, which has been a pretty sticky resistance level for a while. If it breaks clean above that, we could see a push higher, but if it gets rejected there again, especially with volume, I'd expect it to retest the 71.00 region. The risk for me is if it just punches through 72.50 without much hesitation, then my short-term bearish view around that level is invalidated.
2 comments · 1 points
Interesting setup on BRENT. I'm also watching that 72.50 level closely. Do you have any specific indicators you're looking at to confirm a clean break or rejection, especially regarding that volume confirmation?