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Brent Made a Good Start to 2021

January 4, 2021
in ANALYSIS, CFDS, DAILY UPDATES, Home, MARKETS, Technical Analysis
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Brent Oil Daily Chart | 21 Day Moving Average
Brent Oil Daily Chart | 21 Day Moving Average
Brent Oil Daily Chart | 21 Day Moving Average
Brent Oil Daily Chart | 21 Day Moving Average

Oil prices have a good start to 2021. Brent is testing 18 December high 52.48. If the price able to break this resistance 55.88-59.70 zone can be targeted. 3-year bearish trend line 59.70 can be key resistance for the medium-term. As long as this level holds, upside moves can be profit-taking opportunities for bullish traders. Bulls also can follow over and below 21-day moving average closes for a stop.

Below the 21-day moving average, 46.50 may become the first major support level.

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