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Free AccessMNI EUROPEAN OPEN: South Korea Deals With Martial Law Fallout
MNI: PBOC Net Drains CNY227 Bln via OMO Wednesday
BRENT TECHS: (V18) : Rebound Ahead Of Channel........>
BRENT TECHS: (V18) : Rebound Ahead Of Channel Support
*RES 4: $76.15 - Low July 6 now resistance
*RES 3: $75.79 - High July 30
*RES 2: $74.96 - 55-DMA
*RES 1: $74.90 - High August 7
*PRICE: $72.81 @ 06:48 GMT
*SUP 1: $71.04 - Low August 13
*SUP 2: $70.80 - Bear channel support
*SUP 3: $70.53 - High April 4 now support
*SUP 4: $68.65 - 200-DMA
Brent spiked briefly to marginal new lows, also breaching the July lows at 71.30
before rebounding, leaving the lower boundary of the descending channel
unchallenged, so far. However, failure to overcome initial resistance at 73.14
will keep the focus on the downside and the channel support at 70.80. Below here
would open up a run at the 200-DMA, currently at 68.64. Bulls need to recover
the August 7 high of $74.90 and 550-DMA at $74.96 to regain the momentum.
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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.