Free Trial

BRENT TECHS: (H19) Bulls Target 50-DMA *RES 4:......>

BRENT TECHS, DOLLAR-SING
BRENT TECHS: (H19) Bulls Target 50-DMA 
*RES 4: $71.39 - 200-dma 
*RES 3: $65.22 - Low Nov 13 now resistance 
*RES 2: $63.94 - High Dec 7 
*RES 1: $60.93 - 50-dma 
*PRICE: $60.65 @ 05:49 GMT Jan 16 
*SUP 1: $56.86 - 21-dma 
*SUP 2: $55.70 - Up trendline support from Dec 26 low 
*SUP 3: $50.22 - Low Dec 26 
*SUP 4: $48.97 - Low Jun 21, 2017 
Brent futures have recovered the $60 level to shift the focus back on the 50-dma
at $60.93. A break above here would cement the recovery and target a run at the
Dec 7 high at $63.94, triggering an inverse head and shoulders formation. Bears
target the 21-dma at $56.86 below which would open uptrend support at $55.70
ahead of the Dec 26 cycle lows.

To read the full story

Close

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.