Crude oil price suffers big losses – Analysis - 19-01-2023
Economies.com
2023-01-19 05:26AM UTC
Crude oil price continued to decline yesterday to break the intraday bullish channel’s support line and reach the key support 78.90, and opened today with more decline to break this support and heads towards turning to decline, opening the way to suffer more losses and head towards 76.60 followed by 75.65 areas as main negative targets.
Therefore, the bearish bias will be suggested in the upcoming sessions unless breaching 78.90 and holding above it again.
The expected trading range for today is between 76.00 support and 79.80 resistance.
The expected trend for today: Bearish
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