MNI BRIEF: Fed's Williams Says There's No Urgency To Cut Rates

MNI: US March Existing Home Sales Fell 4.3% To 4.19M

WILLIAMS: NOT BASE CASE TO RAISE RATES FURTHER

MNI BRIEF: Beijing Opposes U.S. Measures Against Chinese Steel

MNI China Daily Summary: Thursday, April 18

MNI BRIEF: M2 Growth To Slow On Weak Demand - PBOC's Zou

MNI: FED BALANCE SHEET TOTAL ASSETS -$33B TO $7.406T IN WEEK

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: EU, UK Synd W/C 22 Apr, BoE APF Mon

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

(H1) Bullish Theme

BRENT TECHS
  • RES 4: $60.00 psychological round number
  • RES 3: $58.86 - 2.00 proj of the Nov 13 - 26 rally from Dec 2 low
  • RES 2: $58.59 - 76.4% of the Jan - Apr 2020 sell-off (cont)
  • RES 1: $57.44 - 1.764 proj of the Nov 13 - 26 rally from Dec 2 low
  • PRICE: $56.01 @ 06:46 GMT Jan 14
  • SUP 1: $54.99 Low Jan 11
  • SUP 2: $53.94/52.46 - Jan 7 low / High Dec 18
  • SUP 3: $50.56 - Low Jan 4
  • SUP 4: $49.29 - Low Dec 21/23 and key support

Brent futures remain bullish despite yesterday's pullback. Recent gains reinforces the uptrend and maintains a bullish price sequence of higher highs and higher lows. A positive theme also follows last week's breach of $52.46, Dec 18 high that confirmed a resumption of the underlying uptrend. The focus is on $57.44 and $58.86, both Fibonacci projections. Initial support lies at $54.99.

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.