Oil flat, gold under pressure January 19, 2021SharePrint Oil barely changed in Asia Oil prices barely moved overnight with trading curtailed by the US public holiday. Like other asset classes, oil has received a gentle US stimulus tailwind in Asia, with both Brent and WTI futures moving modestly higher. Brent crude has risen 0.55% to USD55.00 a barrel, and WTI has risen 0.40% to USD52.25 a barrel. Further dollar strength could extend oil’s correction lower—the USD53.00 a barrel level being a critical pivot level for Brent crude. WTI’s support is nearer, at USD51.50 a barrel although only a loss of USD49.30 calls the overall rally into concern. Longs could continue to be trimmed into the Biden inauguration and the expected flurry of executive orders shortly after.