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Crude oil price begins bearish correction – Analysis - 21-01-2022
Crude oil price broke the bullish channel’s support line strongly and heads to achieve bearish correction for the rise that started from 62.40 areas, targeting testing 81.25 as a first station, noting that breaking this level will extend the correctional bearish wave to reach 77.65.
Therefore, the bearish bias will remain suggested in the upcoming sessions unless the price managed to breach 85.15 and hold above it.
The expected trading range for today is between 82.00 support and 85.00 resistance.
The expected trend for today: Bearish
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