Free Trial

ICE BRENT: (H18) Focus Returns To.........>

OIL TECHS
OIL TECHS: ICE BRENT: (H18) Focus Returns To 200-WMA
*RES 4: $68.33 - Daily Bull channel top 
*RES 3: $65.40 - 200-WMA 
*RES 2: $64.95 - High Dec 12 
*RES 1: $64.31 - Bollinger band top
*PRICE: $64.02 @ 0430GMT
*SUP 1: $63.30 - Low Dec 20 
*SUP 2: $62.83 - 21-DMA 
*SUP 3: $62.50 - Low Dec 15 
*SUP 4: $61.84 - Bull channel base off Aug 31 low
*COMMENTARY: The correction lower from ahead of the 200-WMA found support ahead
of the daily bull channel base with the recovery seeing bullish focus back on
$64.95-65.40 where the 200-WMA is located. Above the 200-WMA then targets the
bull channel top. Bears now need a close below $63.30 to ease immediate bullish
pressure and below the bull channel base to shift initial focus back to
$60.82-84 where the 55-DMA and Dec lows are noted.

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.