Free Trial
TURKEY

Consumer Confidence Edges Up in Nov

GOLD TECHS

Corrective Cycle Still In Play

WTI TECHS

(F3) Trend Needle Still Points South

EURJPY TECHS

Gains Considered Corrective

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

(F3) Bear Cycle Extends

BRENT TECHS
  • RES 4: $102.28 - High Jul 5
  • RES 3: $100.10 - High Jul 29
  • RES 2: $96.95/99.56 - High Nov 14 / 7 and the bull trigger
  • RES 1: $90.63/92.23 - High Nov 18 / 20-day EMA
  • PRICE: $87.60 @ 07:16 GMT Nov 22
  • SUP 1: $82.31 - Low Nov 21
  • SUP 2: $80.94 - Low Sep 26 and key medium-term support
  • SUP 3: $80.00 - Round number support
  • SUP 4: $77.04 - Low Jan 3 (cont)

Brent futures sold off sharply Monday but retraced the day's losses and price is unchanged. A bearish theme remains intact. Recent weakness has resulted in a break of support at $87.52, Oct 18 low. This reinforces a bearish theme and note that $85.33, 76.4% of the Sep 26 - Nov 7 bull cycle has been cleared. This signals scope for weakness towards $80.94, the Sep 26 low and a bear trigger. Initial firm resistance is at $92.23, the 50-day EMA.

152 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • RES 4: $102.28 - High Jul 5
  • RES 3: $100.10 - High Jul 29
  • RES 2: $96.95/99.56 - High Nov 14 / 7 and the bull trigger
  • RES 1: $90.63/92.23 - High Nov 18 / 20-day EMA
  • PRICE: $87.60 @ 07:16 GMT Nov 22
  • SUP 1: $82.31 - Low Nov 21
  • SUP 2: $80.94 - Low Sep 26 and key medium-term support
  • SUP 3: $80.00 - Round number support
  • SUP 4: $77.04 - Low Jan 3 (cont)

Brent futures sold off sharply Monday but retraced the day's losses and price is unchanged. A bearish theme remains intact. Recent weakness has resulted in a break of support at $87.52, Oct 18 low. This reinforces a bearish theme and note that $85.33, 76.4% of the Sep 26 - Nov 7 bull cycle has been cleared. This signals scope for weakness towards $80.94, the Sep 26 low and a bear trigger. Initial firm resistance is at $92.23, the 50-day EMA.