Brent oil price tests the first resistance – Analysis – 27/01/2021

Brent_newsBrent oil price tests the resistance line that appears on the chart, which represents the first protection factor t othe continuation of the recently suggested negative scenario, waiting to get negative motive that assists to push the price to resume the negative trades and head towards 54.45 level initially, noting that breaking this level will push the price to 52.30 direct.

Therefore, we will continue to suggest the bearish trend for the upcoming period unless breaching 56.30 level and holding above it.

The expected trading range for today is between 54.45 support and 57.30 resistance.

The expected trend for today: Bearish

Origin: Economies

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