Brent oil price gets a positive close – Analysis - 24-01-2023

Brent oil price continued to rise to breach 88.20 level and close yesterday above it, reinforcing the expectations of achieving more gains in the upcoming period, as it moves inside bullish channel  that has positive targets that start at 90.35 and extend to 91.25.

Holding above 88.20 is important to continue the expected bullish trend, as failing to consolidate above it will put the price under negative pressure that targets testing 86.25 areas initially before any new attempt to rise.

The expected trading range for today is between 87.00 support and 90.00 resistance.

The expected trend for today: Bullish