Crude oil price gathers the positive momentum – Analysis - 21-01-2021

Crude oil price approached 53.90 level and bounced bearishly from there, which shows the strength and importance of this level to the bullish trend, as the price needs to breach this level to open the way to achieve more positive targets that extend to 54.60 and 57.34.

Stochastic reaches the oversold areas to provide positive motive that we are waiting to assist to push the price to resume the expected bullish trend, to keep our positive overview conditioned by the price stability above 52.45.

The expected trading range for today is between 52.00 support and 55.00 resistance.

The expected trend for today: Bullish