Brent oil price resumes the bullish track – Analysis - 20-01-2023
Economies.com
2023-01-20 04:11AM UTC
Brent oil price rallied upwards strongly yesterday after leaning on the bullish channel’s support line that appears on the chart, to head towards achieving more expected bullish correction in the upcoming sessions, targeting visiting 88.20 as a nest target.
Therefore, the bullish bias will be suggested for today, supported by the EMA50 that carries the price from below, noting that breaking 85.10 followed by 84.40 levels will stop the expected rise and press on the price to turn to decline.
The expected trading range for today is between 85.00 support and 88.50 resistance.
The expected trend for today: Bullish
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