Brent oil price declines calmly – Analysis - 22-01-2020
Economies.com
2020-01-22 05:48AM UTC
Brent oil price resumes its negative trading after testing the EMA0 in the previous sessions, to keep the bearish trend scenario valid and active in the upcoming sessions, waiting to visit 62.50 level as a first main target.
The continuous negative pressure formed by the EMA50 supports the chances of extending the bearish wave on the short term basis, to head towards 59.60 areas after surpassing the first target, takint into consideration that the continuation of the bearish wave depends on the price stability below 65.40.
The expected trading range for today is between 62.00 support and 65.00 resistance.
The expected trend for today: Bearish
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