Free Trial

BRENT TECHS: (V18) Quiet Day Keeps Rally Intact .....>

BRENT TECHS, DOLLAR-SING
BRENT TECHS: (V18) Quiet Day Keeps Rally Intact 
*RES 4: $80.00 - Resistance 
*RES 3: $79.59 - High May 22 
*RES 2: $79.25 - High July 10 
*RES 1: $78.87 - Bear channel top 
*PRICE: $76.21 @ 05:47 GMT 
*SUP 1: $74.43 - 55-dma 
*SUP 2: $73.36 - 21-dma
*SUP 3: $70.30 - Low August 15 
*SUP 4: $69.64 - Low April 18 
A quiet session for Brent yesterday leaves the bullish picture intact following
last week's break above the Jan 30 highs. Focus remains on the bear channel top
which comes in at $78.87, and a break above this would put the May 22 high of
$79.59 in focus. Bears need to break back below the 55-dma to take some pressure
off and the 21-dma to shift the focus lower once again and target the August 15
low at $70.30. Below here is the 200-dma, currently at $69.19.

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.