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Free AccessBRENT TECHS: (F20): Resumption Of Bull Trend *RES....>
BRENT TECHS: (F20): Resumption Of Bull Trend
*RES 4: $69.16 - High Sep 16 and primary resistance
*RES 3: $66.58 - Nov 17 high
*RES 2: $65.95 - 76.4% retracement of Sep 16 - Oct 3 decline
*RES 1: $64,03 - High Nov 21 and bull trigger
*PRICE: $63.50 @ 06:34 GMT Nov 22
*SUP 1: $61.92 - Low Nov 21
*SUP 2: $60.30 - Low Nov 20 and key support
*SUP 3: $59.20 - Low Oct 31
*SUP 4: $57.97 - Low Oct 21
BRENT has erased recent bearish threats following sharp gains over the past two
sessions. Yesterday resulted in a break of resistance at $63.65, Nov 15 high and
the bull trigger. The break confirms a resumption of the uptrend and also
resulted in a test of $63.96, 61.8% of the decline between Sep 16 - Oct 3. An
extension higher would open the 76.4% retracement at $65.95. Key support has
been defined at $60.30.
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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.