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ASIA

Coming up in the Asia-Pac Session on Monday:

MNI

Coming up in the Asia-Pac Session on Monday:

JGB TECHS

(H2) Stabilising

USDCAD TECHS

Bias Still Points Lower

AUDUSD TECHS

Fading Onto Recent Gains

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  • RES 4: $84.66 - High Oct 26 and key resistance
  • RES 3: $81.88 - High Nov 24
  • RES 2: $80.42 - High Nov 26
  • RES 1: $77.21 - 50-day EMA
  • PRICE: $76.22 @ 07:02 GMT Dec 9
  • 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 continue to trade higher, extending the sharp bounce from $65.72, Dec 2 low. On the 60-min chart, this week’s rally 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 $77.21, the 50-day EMA. Initial support is at $73.20, the Dec 3 low.