Brent oil price is stable – Analysis - 28-01-2020
Economies.com
2020-01-28 06:00AM UTC
Brent oil price fluctuates around 58.40 level now, and as long as the price is below 59.60, our bearish overview will remain valid for the upcoming period, supported by the EMA50 that presses negatively on the price, waiting to visit 56.00 level that represents our next main target.
We should note that breaching 59.60 and holding above it will stop the expected decline and leads the price to start recovery attempts that target testing 62.50 areas initially.
The expected trading range for today is between 56.50 support and 59.60 resistance.
The expected trend for today: Bearish
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