Free Trial

BRENT TECHS: (Z19): Looking For Direction This.......>

BRENT TECHS, DOLLAR-SING
BRENT TECHS: (Z19): Looking For Direction This Week
*RES 4: $64.48 - High Sep 19
*RES 3: $61.92 - High Sep 26 and key resistance
*RES 2: $60.10 - High Oct 1
*RES 1: $59.68 - High Oct 7
*PRICE: $58.00 @ 06:16 BST Oct 9
*SUP 1: $56.15 - Low Oct 3
*SUP 2: $55.31 - Low Aug 7
*SUP 3: $55.00 - Round number support
*SUP 4: $54.33 - 1.236 projection of Sep 16 - Sep 18 decline from Sep 19 high
BRENT is struggling so far this week to establish a clear direction. The
near-term outlook however does remain marginally bullish following the bounce
off the low on Oct 3 of $56.15. This week has seen resistance at $59.50, Oct 2
high probed however to confirm a clear break, a move above Monday's $59.68 high
is required. This would cement a S/T bullish theme and open $61.92. A break of
$56.15 would confirm a resumption of the downtrend opening $55.31.

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.