Free Trial

BRENT TECHS: (N20): Approaching $26.98 Key...........>

BRENT TECHS, DOLLAR-SING
BRENT TECHS: (N20): Approaching $26.98 Key Resistance
*RES 4: $30.18 - High Apr 21
*RES 3: $28.57 - 20-day EMA
*RES 2: $26.98 - High Apr 23 and key resistance
*RES 1: $26.66 - Intraday high
*PRICE: $26.22 @ 06:36 BST Apr 30
*SUP 1: $24.41 - Intraday low
*SUP 2: $22.73 - Low Apr 29
*SUP 3: $21.92 - Low Apr 28 and key support
*SUP 4: $21.64 - 76.4% retracement of the Apr 22 - 23 rally
Brent was firmer yesterday and has extended short-term gains so far today. The
technical picture has improved and a short-term bullish theme reinforced
following the recovery off Tuesday's low of $21.92. Note that Tuesday's candle
pattern was a doji reversal pattern, further highlighting a positive outlook for
now. The focus is on $26.98, Apr 23 high where a break would signal scope for
gains towards the 20-day EMA at $28.57. Initial support is at $24.41.

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.