Technical Analysis
13.01.2020, 06:15

The cost of Brent continues to fall

Yesterday, the price of Brent continued to decline and closed the day in negative territory near the level of $65.70. Today, oil is trading in a narrow range of $65.35-55, remaining close to yesterday's lows. On the hourly chart, Brent confidently broke through and fixed below the level of the moving average MA (200) H1 ($ 67.75). At the same time, on a four-hour chart, oil has just begun testing the MA (200) Н4 moving average line ($ 65.20) for strength.

  • Resistances levels are at: $66.65, $67.75, $69.30

  • Support levels are at: $64.85, $64.77, $64.19

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