Free Trial
EURJPY TECHS

Recovers From Friday’s Low

LOOK AHEAD

Key data on the hour

USDJPY TECHS

Bear Cycle Still In Play

EUROZONE ISSUANCE

EGB Supply - W/C November 14, 2022

BTP TECHS

(Z2) Resistance Appears Exposed

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) Testing Support At The 50-Day EMA

BRENT TECHS
  • RES 4: $105.58 - 76.4% retracement of the Jun 8 - Sep 26 bear leg
  • RES 3: $102.28 - High Jul 5
  • RES 2: $100.10 - High Jul 29
  • RES 1: $96.95/99.56 - High Nov 14 / 7 and the bull trigger
  • PRICE: $93.18 @ 06:56 GMT Nov 15
  • SUP 1: $91.73 - Low Nov 10 and a key support
  • SUP 2: $87.52 - Low Oct 18 and bear trigger
  • SUP 3: $83.38 - Low Sep 30
  • SUP 4: $80.94 - Low Sep 26 and key medium-term support

Brent futures traded lower Monday. A bearish threat remains present following last week’s reversal lower from 99.56, the Nov 7 high. A bearish engulfing pattern on Nov 8 reinforced bearish conditions. Price is testing the 50-day EMA at $92.68. A clear break of this EMA would open the $90.00 handle and $87.52, the Oct 18 low. On the upside, key short-term resistance has been defined at $99.56, the Nov 7 high. A break would be bullish.

162 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: $105.58 - 76.4% retracement of the Jun 8 - Sep 26 bear leg
  • RES 3: $102.28 - High Jul 5
  • RES 2: $100.10 - High Jul 29
  • RES 1: $96.95/99.56 - High Nov 14 / 7 and the bull trigger
  • PRICE: $93.18 @ 06:56 GMT Nov 15
  • SUP 1: $91.73 - Low Nov 10 and a key support
  • SUP 2: $87.52 - Low Oct 18 and bear trigger
  • SUP 3: $83.38 - Low Sep 30
  • SUP 4: $80.94 - Low Sep 26 and key medium-term support

Brent futures traded lower Monday. A bearish threat remains present following last week’s reversal lower from 99.56, the Nov 7 high. A bearish engulfing pattern on Nov 8 reinforced bearish conditions. Price is testing the 50-day EMA at $92.68. A clear break of this EMA would open the $90.00 handle and $87.52, the Oct 18 low. On the upside, key short-term resistance has been defined at $99.56, the Nov 7 high. A break would be bullish.