Midday update for Crude oil 26-01-2021
Economies.com
2021-01-26 10:53AM UTC
Crude oil price trades with clear positivity to approach the key resistance 53.50, and the price needs to hold below this level to keep the bearish trend scenario active for today, as breaching it will push the price back to the main bullish channel and achieve positive targets that start at 54.60, while we are waiting for bearish rebound to resume the bearish trend that its targets begin at 51.70 and extend to 49.70 after breaking the previous level.
The expected trading range for today is between 51.00 support and 53.50 resistance.
The expected trend for today: Bearish
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