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Free AccessBRENT TECHS: (H20): Remains Vulnerable *RES 4:.......>
BRENT TECHS: (H20): Remains Vulnerable
*RES 4: $69.00 - 61.8% retracement of the Jan 9 - Jan 9 sell-off
*RES 3: $68.15 - 50.0% retracement of the Jan 9 - Jan 9 sell-off
*RES 2: $67.31 - 38.2% retracement of the Jan 9 - Jan 9 sell-off
*RES 1: $66.10 - High Jan 9
*PRICE: $65.30 @ 06:45 GMT Jan 10
*SUP 1: $64.46 - Low Jan 9
*SUP 2: $64.24 - Low Dec 17
*SUP 3: $63.32 - 50% retracement of the Oct 3 - Jan 8 rally
*SUP 4: $62.16 - Low Nov 12
BRENT has been extremely volatile this week with futures trading sharply lower
off Wednesday's high of $71.75. Price also traded below support at $65.63, Dec
31 low and this effectively suggests a top has been put in place for now. The
technical picture suggests scope for a deeper pullback near-term. A break of
yesterday's low at $64.56 would open $63.32, a retracement level. Initial
resistance is at $66.10.
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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.