BRENT has formed a bearish flag. 80% of the time Leg1 always moves to equate Leg 2. The purple rectangle support turns resistance clarifying to false breakout of BRENT to the upside. However, if it breaks the flag to the upside, treat it as a change in trend.
Trading always carries risk, and this IS NOT A FINANCIAL ADVICE but only for EDUCATIONAL PURPOSES.
Let me know your thoughts.
Thank you.
Trading always carries risk, and this IS NOT A FINANCIAL ADVICE but only for EDUCATIONAL PURPOSES.
Let me know your thoughts.
Thank you.
Trade active
The purple rectangle acts as resistance preventing BRENT from a false breakout.
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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.