Brent oil price hits the first extended target – Analysis – 13/01/2022

forex_news_neftBrent oil price managed to touch 84.55 level and settles near it, and it might lean on the bullish channel’s support line before resuming the expected bullish trend for the upcoming period, which targets 85.80 as a next main station.

The EMA50 continues to support the suggested bullish wave, noting that holding above 83.40 is important to continue the expected rise, as breaking it might press on the price to decline on the intraday basis and test 80.80 areas before any new positive attempt.

The expected trading range for today is between 83.00 support and 85.70 resistance.

The expected trend for today: Bullish

Origin: Economies

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