Against the backdrop of optimism by investors and participants in the oil market associated with expectations of a further recovery in the global economy, the price of Brent crude oil has been growing since May last year.
At its end, the price reached a 9-month high near $ 52.49 per barrel. At the beginning of the new 2021, the price growth continued. The price remains positive dynamics.
On Friday, Brent crude is traded in the middle of the upward channel on the daily chart, in the zone above the key support levels 55.50, 51.70, as well as above the important short-term support levels 63.43, 67.72
Trading recommendations
Sell Stop 69.30. Stop-Loss 70.30. Take-Profit 67.72, 63.43, 61.50, 59.40, 57.39, 55.50, 53.30, 51.70
Buy Stop 70.30. Stop-Loss 69.30. Take-Profit 71.82, 75.50, 86.60