Technical Analysis
31.07.2020, 05:19

Oil consolidated below MA 200 H1

Yesterday Brent crude was trading lower and closed the day in the red around $43.15. Oil was trading in a narrow range of $42.95-35 today, staying close to yesterday's closing price. On the hourly chart, Brent is still trading below the moving average MA line (200) H1 ($43.45). On the four-hour chart, oil remains above the MA 200 H4 line. 

  • Resistances levels are at: $43.85, $44.20, $44.70-80

  • Support levels are at: $42.25-35, $41.20-35, $40.85

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