Free Trial

BRENT TECHS: (Z18) $75 Continues To Act As Strong....>

BRENT TECHS, DOLLAR-SING
BRENT TECHS: (Z18) $75 Continues To Act As Strong Support
*RES 4: $90.00 - Resistance 
*RES 3: $86.74 - High Oct 4 
*RES 2: $80.00 - Resistance 
*RES 1: $78.73 - 55-dma 
*PRICE: $76.40 @ 05:34 GMT 
*SUP 1: $75.00 - Up trendline support from Feb lows 
*SUP 2: $72.65 - 200-dma 
*SUP 3: $70.85 - Low Aug 15 
*SUP 4: $70.00 - Support 
Brent futures came under pressure yesterday but managed to hold above the $75
level to keep the short-term outlook neutral. Bulls need to recover the 55-dma
at $78.73 to open the $80 level, above which the outlook would turn positive. A
break below $75 on the other hand would likely open the floodgates to further
losses as it would mean a break of up trendline support from the Feb lows. 

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.