Midday update for Crude oil 21-01-2021
Economies.com
2021-01-21 10:59AM UTC
Crude oil price shows bearish bias now to test the bullish channel’s support line, and as we mentioned this morning, the price needs to hold above 52.45 to keep the bullish trend scenario active for today, as breaking this level will press on the price to start correctional bearish wave on the intraday basis, while the price needs to surpass 53.90 to reinforce the chances of rallying towards our targets that start at 54.60 and extend to 57.34
The expected trading range for today is between 52.00 support and 55.00 resistance.
The expected trend for today: Bullish
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