Free Trial

BRENT TECHS: (N19): Uptrend Resuming *RES 4:........>

BRENT TECHS, DOLLAR-SING
BRENT TECHS: (N19): Uptrend Resuming 
*RES 4: $77.90 - Trendline resistance 
*RES 3: $76.35 - 76.4% retracement 
*RES 2: $74.75 - High Apr 25 
*RES 1: $73.37 - High May 16
*PRICE: $72.85 @ 01:46 GMT May 17 
*SUP 1: $69.40 - 55-dma
*SUP 2: $68.79/74 - Low May 6/200-dma
*SUP 3: $68.21 - High March 21 
*SUP 4: $66.09 - 100-dma 
Brent futures posted fresh monthly highs yesterday hitting as high as $73.37
amid a recovery in global risk appetite. Bulls look to take out this level to
open the April 25 ytd high at $74.75 and extend the broader uptrend. A downside
break below the 55-dma at $69.40 would open the May 6 low/200-dma at $68.79/74.
Below here would suggest a reversal towards the March 21 high at $68.21.

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.