MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: PBOC Net Injects CNY57 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1315 Fri; -0.52% Y/Y

CHINA PBOC CONDUCTS CNY59 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1315 FRI VS 7.1285

Japan Jun Core CPI +2.6% Y/Y; Energy Price Up

MNI BRIEF: Japan June Core CPI Rises 2.6% Vs. May +2.5%

CLARIFY: JAPAN JUNE SERVICES PRICES +1.7% Y/Y; MAY +1.6%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

(F2) Approaching Key Resistance

BRENT TECHS
  • RES 4: $90.00 - Psychological round number
  • RES 3: $87.73 - 2.00 proj of the Aug 23 - Sep 3 - Sep 9 price swing
  • RES 2: $87.00 - Round number resistance
  • RES 1: $85.77 - High Oct 25 and the bull trigger
  • PRICE: $85.29 @ 06:59 GMT Nov 10
  • SUP 1: $82.94/80.20 - 20-day EMA / Low Nov 4
  • SUP 2: $79.66 - 50-day EMA
  • SUP 3: $78.42 - Low Oct 7
  • SUP 4: $75.80 - Low Sep 30

Brent futures have continued their climb this week and the contract is approaching key resistance and the bull trigger at $85.77, Oct 25 high. A break of this level would confirm a resumption of the underlying uptrend and resume the bullish price sequence of higher highs and higher lows. This would open $87.73, a Fibonacci projection. On the downside, key short-term support has been defined at $80.20 Nov 4 low.

Energy BulletsCommodities
Energy BulletsCommodities

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.