Free Trial

BRENT TECHS: (X18) Bears Need A Break Below 21-DMA...>

BRENT TECHS, DOLLAR-SING
BRENT TECHS: (X18) Bears Need A Break Below 21-DMA 
*RES 4: $95.00 - Channel top 
*RES 3: $90.00 - Resistance 
*RES 2: $87.00 - Measured move breakout target 
*RES 1: $80.00 - Resistance 
*PRICE: $78.24 @ 04:44 GMT 
*SUP 1: $76.63 - 21-dma 
*SUP 2: $75.18 - 55-dma 
*SUP 3: $70.67 - Low August 15 
*SUP 4: $69.24 - Low April 18 
Nov-18 Brent futures edged lower yesterday following the failure to close above
the key $80 level. Bears now need to push back below the 21 and 55-dmas to keep
alive hopes of a larger topping pattern and target the Aug 15 low. Bulls need to
close above $80 to keep the pressure on and look to trigger a bull flag
formation targeting $87.00.

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.