Free Trial

(H2) Fresh Trend High

BRENT TECHS
  • RES 4: $84.00 - Round number resistance
  • RES 3: $83.69 - High Oct 10 and a major resistance
  • RES 2: $83.11 - High Nov 10
  • RES 1: $81.50 - High Jan 5
  • PRICE: $80.06 @ 06:57 GMT Jan 6
  • SUP 1: $77.04 - Low Jan 3
  • SUP 2: $76.69 - 50-day EMA
  • SUP 3: $75.38 - Low Dec 27
  • SUP 4: $73.55 - Low Dec 22

Brent futures remain in an uptrend and the contract traded higher once again yesterday. The break this week of resistance at $80.03, the Dec 29 high, confirms a resumption of the current bull cycle and opens $83.11 next, the Nov 10 high. On the downside, Monday’s low of $77.04 represents the key short-term support. A break would threaten the trend and suggest scope for a deeper corrective pullback.

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.