Short Brent crude | Trade of the week

This week, we're going short Brent crude oil again. Last week's short was stopped out, but the case remains the same. The rally from late September looks corrective, with price grinding into heavy resistance. We're shorting at $102.77 with a wider stop at $110.80 and a target at $78. The recent rise looks corrective rather than impulsive, with a heavy resistance zone above the September high keeping a lid on price. Using a wider stop this time gives us a near 3-to-1 reward-to-risk ratio. Last week's stopout at $103.50 cost 2%, but Robusta coffee closed at its revised target for around a 3% profit. 👉 In this video: ✅ Why we're shorting Brent crude again ✅ Wider stop and improved reward-to-risk ratio ✅ Closing Robusta coffee for a profit #Trading #BrentCrude #Oil #TechnicalAnalysis #Markets #TradeOfTheWeek Trade of the Week Playlist: ►https://www.youtube.com/playlist?list=PLiuPElZAFyTJFfLuMPPt1SvCt8gJEpNs7 📈 Catch more market commentary and insights on our channel. 🔔 Subscribe ► https://www.youtube.com/@iguk_official?sub_confirmation=1 Find out more: https://www.ig.com/uk/ways-to-trade?region=uk&utm_medium=organic_social&utm_source=youtube&utm_campaign=description&product=trading&utm_marketing_tactic=consideration&utm_creative_format=text_link&utm_content=yt_description&audience=na Your capital is at risk. 70% of retail investors lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.