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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI US OPEN - Trump Warns BRICS Over Moving Away From USD
MNI BRIEF: Japan Q3 GDP To Be Slightly Revised Down
(Q2) Bearish Threat Still Present
- RES 4: $122.68- 1.50 proj of the May 11 - 17 -19 price swing
- RES 3: $120.88 - High Jun 14 and key resistance
- RES 2: $116.58 - High Jun 17
- RES 1: $111.21 - 20-day EMA
- PRICE: $104.74 @ 07:06 BST Jun 24
- SUP 1: $101.53/100.66 - Low Jun 22 / Low May 19
- SUP 2: $99.36 - Low May 12
- SUP 3: $95.47 - Low May 11
- SUP 4: $93.45 - Low Apr 25
WTI futures are trading closer to this week’s lows. The contract has cleared support at the 50-day EMA and this strengthens the current bearish theme, signalling scope for a continuation lower. The break has opened $100.66, the May 19 low. A breach of this level would pave the way for a move towards $95.47, the May 11 low. Initial firm resistance is seen at $116.58, the Jun 17 high. A break would ease the bearish threat.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.