MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

MNI BRIEF: BOJ Tankan: Business Inflation Expectations Solid

MNI BRIEF: RBA Details Hypothetical Monetary Policy Paths

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

MNI: SWEDEN NOV UNEMPLOYMENT 7.4%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

(G3) Corrective Bounce Extends

WTI TECHS
  • RES 4: $86.26 - 76.4% retracement of the Nov 7 - Dec 9 bear leg
  • RES 3: $84.10 - High Nov 17
  • RES 2: $83.27 - High Dec 1 and a key resistance
  • RES 1: $81.50 - High Jan 3 and the bull trigger
  • PRICE: $81.13 @ 07:10 GMT Jan 18
  • SUP 1: $77.26/72.46 - 20-day EMA / Low Jan 5
  • SUP 2: $70.31 - Low Dec 9 and the bear trigger
  • SUP 3: $68.19 - 1.236 proj of the Aug 30 - Sep 28 - Nov 7 price swing
  • SUP 4: $65.47 - 1.382 proj of the Aug 30 - Sep 28 - Nov 7 price swing

WTI futures traded higher last week and the bull theme remains intact as the contract extends its climb. The move higher has exposed resistance at $81.50, the Jan 3 high and a bull trigger. Clearance of this hurdle is required to strengthen a bullish theme and open $83.27, the Dec1 high. The broader trend outlook still appears bearish. A reversal lower would expose the bear trigger that has been defined at $70.31, the Dec 9 low.

Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.