Crude oil price breaches the resistance – Analysis - 24-01-2023

Crude oil price managed to beach 81.60 level and closed the daily candlestick above it, to support the continuation of the expected bullish trend on the intraday and short term basis, opening the way to head towards our new targets that start at 82.70 and extend to 84.25.

Therefore, the bullish trend will remain suggested in the upcoming sessions, organized inside the bullish channel that appears on the chart, noting that breaking 80.20 will stop the expected rise and press on the price to turn to decline.

The expected trading range for today is between 80.20 support and 83.20 resistance.

The expected trend for today: Bullish