Crude oil price tests the support – Analysis - 30-01-2023
4 months ago

Crude oil price provided strong negative trades on last Friday to test the sideways range’s support line at 78.95, and still confined between this range’s lines represented by the mentioned support and 81.60 resistance, to continue suggesting the sideways move until the price confirms surpassing one of these levels.


We remind you that breaking the mentioned support will push the price to suffer additional losses and target 77.20 followed by 75.65 areas, while breaching the resistance represents the key to resume the correctional bullish wave that its next main target located at 84.25.


The expected trading range for today is between 77.60 support and 81.20 resistance.

The expected trend for today: Sideways

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