BRENT OIL Analysis 12 January 2021

Focus on the key resistance level of 56.47 in the Brent Oil Price. As long as the pair stays below 56.47, on a four hourly basis, the upward movement may be limited and we will see 53.38 as a support level. Otherwise, if the price rises above 56.47, the next resistance level can be seen at 57.61.

Support : 53.38 - 49.67 - 45.28

Resistance : 56.47 - 57.61 - 59.25