Short Brent crude | Trade of the week

This week, we're going short Brent crude oil, but not at current levels. With price still in a strong uptrend and resistance visible around $109 per barrel, we're waiting for a move up towards that level before entering. We'll short at $108.75 with a stop above the March peak at $116.30 and a downside target near the August low at $78.00. Previous trades are at opposite ends of the spectrum. The GBP/USD long is currently underwater but the stop below the early September low remains intact. The EUR/USD short from two weeks ago came close to being stopped out but has since moved into profit, heading towards the $1.15 target. 👉 In this video: ✅ Why we're shorting Brent crude at resistance ✅ Key entry, stop and target levels ✅ Updates on GBP/USD and EUR/USD #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. 69% 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.