Free Trial

BRENT TECHS: (N19): 200/55-DMAs Under Pressure.......>

BRENT TECHS, DOLLAR-SING
BRENT TECHS: (N19): 200/55-DMAs Under Pressure
*RES 4: $80.37 - High Oct 17, 2018 
*RES 3: $76.35 - 76.4% retracement 
*RES 2: $74.75 - High Apr 25 
*RES 1: $72.79 - High Apr 30 
*PRICE: $69.22 .35 @ 05:47 GMT May 6 
*SUP 1: $68.83/68.57 - 200-dma/55-dma 
*SUP 2: $68.21 - High March 21 
*SUP 3: $65.89 - Low March 28 
*SUP 4: $63.91 - Low March 8 
Brent futures have extended last week's selloff with uptrend support from the
Feb lows giving way in Asian trading. This puts the focus on the 200/55-dmas at
$68.83/68.57, below which would shift the outlook firmly negative opening the
March 21 high at $68.21. Bulls need to close back above $70 to stabilse the
outlook and return the focus back to Tuesday's high at $72.79.

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.