Brent oil remains under pressure

Yesterday, the price of Brent crude oil fell again and reached $63.75, however, by the end of the day, Brent recovered slightly and closed the day at about $64.55. Today, oil is trading in a narrow range of $64.45-65, staying near weekly lows. Thus, oil remains under pressure in the framework of the general downtrend of January 8. On the hourly chart, Brent is confidently trading below the MA (200) H1 moving average ($66.75). At the same time, on a four-hour chart, oil also managed to gain a foothold below the MA (200) Н4 moving average line ($65.30).

• Resistance levels are at: $65.30-50, $66.30, $67.25

• Support levels are at: $63.75, $63.35, $62.40

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