Brent oil price completes negative pattern – Analysis - 31-01-2023
4 months ago

Brent oil price traded with strong negativity to break 85.10 and settles below it, to complete forming double top pattern that appears on the chart, which puts the price under expected negative pressure in the upcoming sessions, on its way to visit 81.30 areas as a next main target.


Therefore, the bearish bias will be expected for today, taking into consideration that breaching 85.10 – 85.45 levels will cancel the negative effect of the mentioned pattern and lead the price to recover.


The expected trading range for today is between 82.30 support and 85.50 resistance.


The expected trend for today: Bearish

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