Free Trial

Late Equity Roundup: Mildly Lower on Week


Remains Above The 50-Day EMA

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

(G2) Rally Extends

  • RES 4: $81.88 - High Nov 24
  • RES 3: $80.42 - High Nov 26
  • RES 2: $77.34 - 50-day EMA
  • RES 1: $76.27 - High Dec 7
  • PRICE: $74.99 @ 07:09 GMT Dec 8
  • SUP 1: $73.20 - Low Dec 7
  • SUP 2: $69.24/65.72 - Low Dec 3 / Low Dec 2 and the bear trigger
  • SUP 3: $62.95 - Low Aug 23 and a key support
  • SUP 4: $62.54 - Low May 21

Brent futures traded higher again yesterday, extending the sharp bounce from $65.72, the Dec 2 low. On the 60-min chart, the move higher this week has confirmed an inverted head and shoulders reversal suggesting scope for stronger gains near-term. The move higher though is considered corrective and this is allowing a recent oversold condition to unwind. Attention is on $77.27, the 50-day EMA. Initial firm support lies at $69.24, the Dec 3 low.

MNI London Bureau | +44 203-586-3805 |

To read the full story

Why Subscribe to

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.