Brent retests previous week´s lows

Brent retests previous week´s lows

Key Support: 69.00
Key Resistance: 70.60 – 71.40

Long Term View
Brent has recovered nicely over the past few months and we are trying to get in on this rally.

15M chart Analysis
Brent is trading in a very structured market and is now retesting the previous week´s highs.
We will wait for the break of the bullish flag at the bounce of the 2.618 of the last leg up to enter this long trade.

Now that Brent has broken with the lows we will delete the pending order and wait for the new pullback to find a new buy entry in this market since the potential here is big.

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Author : Orlando Gutierrez

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