Hello traders,
as discussed in our Morning Meeting, here is the setup in Brent crude that we're following. OPEC has a two-day meeting with Russia discussing the recent oil rally, and reports emerged that some members are reluctant to cut their production, putting pressure on oil prices.
Brent has already formed a fresh swing low, showing acceptance of lower prices. I am looking for a retracement to the first blue liquidity zone before considering a short based on price-action and volume .
as discussed in our Morning Meeting, here is the setup in Brent crude that we're following. OPEC has a two-day meeting with Russia discussing the recent oil rally, and reports emerged that some members are reluctant to cut their production, putting pressure on oil prices.
Brent has already formed a fresh swing low, showing acceptance of lower prices. I am looking for a retracement to the first blue liquidity zone before considering a short based on price-action and volume .
Trade closed: target reached:
TP1 reached at 46.80, remaining position closed at 47.35 in profit
