CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

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) Testing The 20-Day EMA

BRENT TECHS
  • RES 4: $91.63 - High Nov 17
  • RES 3: $89.37 - High Dec 1
  • RES 2: $86.45 - 50-day EMA
  • RES 1: $83.04/15 - 20-day EMA / High Dec 14
  • PRICE: $81.96 @ 07:02 GMT Dec 15
  • SUP 1: $78.10/75.11 - Low Dec 13 / Low Dec 9 and the bear trigger
  • SUP 2: $72.33 - 1.00 proj of the Nov 7 - 28 - Dec 1 price swing
  • SUP 3: $69.28 - Low Dec 20 2021 (cont)
  • SUP 4: $68.31 - 1.236 proj of the Nov 7 - 28 - Dec 1 price swing

Brent futures traded higher again Wednesday as the current corrective cycle extends. Price has tested resistance at $83.04, the 20-day EMA. A break of this level would signal potential for a stronger recovery and open the 50-day EMA, at $86.45. The broader trend outlook is bearish. A reversal lower would signal the end of the correction and refocus attention on Friday’s low of $75.11 - the bear trigger.

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.