Brent slows downs as it hits massive resistance [Video]

Orlando Gutierrez Learn 2 Trade

Brent has been in a massive 56% rally since October 2020 and is now retesting a key level that held as support for 175 days (August 2019 - January 2020).

This market is very strong but a pullback to the previous highs might give us the best trading opportunity. The only real pullback on this rally has been a -21% move back in August - September 2020 and bullish targets are still unreached and at least a 15% move away, hence the big buying opportunity.

Author

Orlando Gutierrez

Learn 2 Trade

Orlando has been involved in the financial markets for about 10 years. His focus is Global Macro and he is a strong believer that the best way to trade the currency markets is focusing on the big picture and holding on to big macro trends.

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