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US EURODLR FUTURES

EDZ1/M2 Given

US EURODLR FUTURES

EDH2/U2 Given

AUSSIE BONDS

AOFM Weekly Issuance Slate

RBNZ

LSAP Purchase Target Cut

JGBS

Futures Back From Overnight Highs

KOREA RATES

10-Year Future Hits Contract High

(G1) Bull Trend Conditions Dominate

BRENT TECHS
  • RES 4: $56.32 - 1.382 proj of the Nov 16 - 25 rally from Dec 2 low
  • RES 3: $54.65 - 1.236 proj of the Nov 16 - 25 rally from Dec 2 low
  • RES 2: $53.15 - 1.000 proj of the Nov 16 - 25 rally from Dec 2 low
  • RES 1: $52.00 - Round number resistance
  • PRICE: $51.27 @ 06:32 GMT Dec 18
  • SUP 1: $49.13 - Low Dec 14
  • SUP 2: $48.09 - Low Dec 8 and the key support
  • SUP 3: $46.82 - Low Dec 2
  • SUP 4: $45.00 - Low Nov 23

Brent futures resumed their uptrend this week. The break higher reinforces bullish conditions and maintains the positive price sequence of higher highs and higher lows that defines an uptrend with moving average studies also in a bull mode condition. Price has reached the $51.66 objective and attention turns to $52.00 next and $53.15, a fibonacci projection. On the downside, firm support is seen at $49.13, low Dec 14.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com