Crude oil price is recovering – Analysis - 24-01-2022
Economies.com
2022-01-24 05:13AM UTC
Crude oil price bounced upwards clearly to attempt to return to the bullish channel that appears on the chart, which hints stopping the bearish correction and head to resume the main bullish trend, and the price needs to surpass 86.00 to confirm the continuation of the rise towards 88.00 as a next main positive target.
Therefore, the bullish trend will remain suggested in the upcoming sessions conditioned by surpassing 86.00 level in addition to the consolidation above 84.80, as breaking this level will put the price under the negative pressure again, to head towards 82.80 followed by 81.25 levels mainly.
The expected trading range for today is between 84.40 support and 87.30 resistance.
The expected trend for today: Bullish
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