Brent oil price breaks the support – Analysis - 25-01-2023
Economies.com
2023-01-25 04:38AM UTC
Brent oil price faced strong negative pressure yesterday to break the bullish channel’s support line and settles below it, which pushes the price to turn to decline on the intraday basis and heads towards achieving expected additional decline in the upcoming sessions, on its way to visit 85.10 level mainly.
Therefore, we expect to witness more bearish bias on the intraday basis unless the price managed to breach 86.90 and hold above it.
The expected trading range for today is between 85.00 support and 88.00 resistance.
The expected trend for today: Bearish
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