Free Trial

BRENT TECHS: (Z19): Chart Gap Filled *RES 4:.........>

BRENT TECHS, DOLLAR-SING
BRENT TECHS: (Z19): Chart Gap Filled
*RES 4: $70.32 - High Sep 16 and key resistance
*RES 3: $67.85 - High Sep 17
*RES 2: $64.48 - High Sep 19 and near-term bull trigger
*RES 1: $61.92 - High Sep 26
*PRICE: $61.01 @ 07:27 BST Sep 30
*SUP 1: $59.83 - Low Sep 27
*SUP 2: $58.70 - Low Sep 13
*SUP 3: $58.11 - Low Sep 12
*SUP 4: $57.65 - Trendline support drawn off the Aug 7 low
Brent traded lower Friday marking a low print of $59.83 and filling the entire
gap in the chart caused by the risk related spike on Sep 16. The gap low was at
$59.84, Sep 13 low. Near-term conditions remain bearish and the focus is on
trendline support drawn off the Aug 7 low that currently intersects at $57.65.
Initial resistance is at $61.92 however a break above $64.48, Sep 19 high is
required to reinstate a bullish theme.

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.