Brent oil price retests the broken support – Analysis - 19-01-2021
Economies.com
2021-01-19 05:23AM UTC
Brent oil price settles below the broken support of the main bullish channel, which keeps the bearish trend scenario active for the upcoming period, affected by the previously completed head and shoulders’ pattern, which supports the chances of heading towards 52.30 as a next negative target.
Therefore, we will continue to suggest the bearish trend for today conditioned by the price stability below 55.45.
The expected trading range for today is between 53.00 support and 56.00 resistance.
The expected trend for today: Bearish
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