Free Trial

BRENT TECHS: (G20): Bullish Gains Extend *RES 4:.....>

BRENT TECHS: (G20): Bullish Gains Extend
*RES 4: $70.00 - Psychological round number
*RES 3: $68.58 - 2.00 projection of Nov 20 - Nov 27 rally from Dec 3 low
*RES 2: $68.02 - High Sep 16 and primary resistance
*RES 1: $67.00 - 1.618 projection of Nov 20 - Nov 27 rally from Dec 3 low
*PRICE: $66.66 @ 06:27 GMT Dec 20
*SUP 1: $65.12 - Low De 17
*SUP 2: $64.50 - Low Dec 13
*SUP 3: $63.01 - Low Dec 11 and initial key support
*SUP 4: $62.75 - Low Dec 5
BRENT remains bullish and continues to push higher. Futures have recently
cleared $64.98, 76.4% retracement of the Sep 16 to Oct 3 decline and have not
looked back, once again confirming a resumption of the underlying uptrend.
Attention turns to the $68.02 key resistance and Sep 16 high. The first
objective though is at $67.00, a Fibonacci projection level. On the downside,
initial support lies at $65.12, Dec 17 low.

To read the full story



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.