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Free AccessBRENT TECHS: (N20): Bulls Still Pausing For Breath...>
BRENT TECHS: (N20): Bulls Still Pausing For Breath
*RES 4: $34.27 - High Apr 15
*RES 3: $33.62/75 - 50-day EMA / 76.4% retracement of the Apr 9 - 22 sell-off
*RES 2: $32.27 - High May 6 and bull trigger
*RES 1: $31.47 - High May 11
*PRICE: $29.39 @ 06:37 BST May 14
*SUP 1: $28.66 - Low May 6
*SUP 2: $27.77 - Low May 5 and key intraday support
*SUP 3: $25.50 - Low May 4
*SUP 4: $24.41 - Low Apr 30
Brent futures are unchanged and continue to consolidate below key resistance at
$32.27, May 6 high. Recent price action is viewed as a pause in the uptrend.
Recently futures cleared the 20-day EMA, reinforcing the bullish cycle. This
also follows a break of $26.98, Apr 23 high that confirmed a S/T reversal.
Attention is on $33.75, 76.4% of the Apr 9 - 22 decline and the 50-day EMA that
today intersects at $33.62. The average is a key resistance. $27.77 is support.
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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.