Crude oil price begins negatively – Analysis - 26-01-2021
Economies.com
2021-01-26 05:39AM UTC
Crude oil price opens today’s trading with bearish bias after the temporary rise that it witnessed yesterday, which keeps the bearish trend scenario active for the upcoming period, supported by stochastic negativity, waiting to test 51.70 initially, noting that breaking this level will push the price to 49.70 as a next negative target.
On the other hand, we should note that breaching 53.50 will stop the expected decline and leads the price to resume the main bullish trend again.
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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