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Free AccessBRENT TECHS: (F20): Trendline Support Cleared *RES...>
BRENT TECHS: (F20): Trendline Support Cleared
*RES 4: $65.95 - 76.4% retracement of Sep 16 - Oct 3 decline
*RES 3: $63.96 - 61.8% retracement of Sep 16 - Oct 3 decline
*RES 2: $63.65 - High Nov 15
*RES 1: $62.57 - High Nov 19 and key intraday resistance
*PRICE: $60.73 @ 06:25 GMT Nov 20
*SUP 1: $60.66 - Low Nov 8 and intraday bear trigger
*SUP 2: $59.20 - Low Oct 31
*SUP 3: $58.64 - 61.8% retracement of the Oct 3 - Nov 15 rally
*SUP 4: $57.97 - Low Oct 21
BRENT experienced a sharp sell-off Tuesday breaking below its trendline support
drawn off the Oct 3 low that intersected at $62.21. The break lower brings into
focus support at $60.66, Nov 8 low where a clear breach is required to reinforce
the importance of the move below the trendline and also signal a reversal. This
would open $59.20, Oct 31 low. A break above yesterday's high is required to
offset the developing bearish threat and open $63.65 once again.
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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.