Free Trial

BRENT TECHS: (N19): Upside Momentum Capped *RES 4:...>

BRENT TECHS, DOLLAR-SING
BRENT TECHS: (N19): Upside Momentum Capped
*RES 4: $77.10 - Trendline resistance 
*RES 3: $76.35 - 76.4% retracement 
*RES 2: $74.75 - High Apr 25 
*RES 1: $72.58/79 - High May 13/April 30 
*PRICE: $71.03 @ 05:20 GMT May 15 
*SUP 1: $69.16/68.75 - 55-dma/200-dma 
*SUP 2: $68.21 - High March 21 
*SUP 3: $65.89 - Low March 28 
*SUP 4: $63.91 - Low March 8 
Brent futures saw upside momentum capped by the 21-dma yesterday keeping the
near term outlook neutral. A downside break below the 55-dma/200-dma at
$69.16/68.75 is needed to suggest a reversal to the March 21 high at $68.21.
Bulls need to recover the 21-dma to open Monday's high and the April 30 high at
$72.58/79. Above here would put the focus back on the ytd high at $74.75.

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.