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MNI China Daily Summary: Monday, September 04

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BRENT TECHS: (M20): Heavy! *RES 4: $32.32 - High.....>

BRENT TECHS, DOLLAR-SING
BRENT TECHS: (M20): Heavy!
*RES 4: $32.32 - High Apr 14
*RES 3: $30.33 - High Apr 15
*RES 2: $29.00 - High Apr 16 and intraday key resistance
*RES 1: $26.50 - Intraday high
*PRICE: $22.26 @ 09 :36 BST Apr 21
*SUP 1: $20.86 - 1.00 projection of Jan 8 - Feb 10 decline fro Apr 9 high
*SUP 2: $20.00 - Psychological round number
*SUP 3: $17.19 - 1.236 projection of Jan 8 - Feb 10 decline fro Apr 9 high
*SUP 4: $14.92 - 1.382 projection of Jan 8 - Feb 10 decline fro Apr 9 high
Brent remains volatile and bearish as futures trade to fresh lows for 2020. The
market has cleared the former key support at $24.52, Apr 1 low confirming a
resumption of this year's downtrend and reinforcing bearish conditions.
Continued weakness is likely. The focus is on $20.86 next, a wave related
Fibonacci projection ahead of the psychological $20.00 level. Clearance of
$20.00 would open $17.19, a Fibonacci projection. Resistance is at $26.50.
MarketsFixed Income NewsForeign Exchange News
MarketsFixed Income NewsForeign Exchange News

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