Free Trial

ICE BRENT: (M18) Bulls Focused On.........>

OIL TECHS
OIL TECHS: ICE BRENT: (M18) Bulls Focused On $69.97-71.28
*RES 4: $73.41 - High Nov 28 2014 (Cont) 
*RES 3: $71.28 - 2018 High Jan 25 (Cont) 
*RES 2: $69.97 - Monthly High Jan 25 
*RES 1: $69.44 - High Mar 21
*PRICE: $69.06 @ 0430GMT
*SUP 1: $68.49 - Hourly support Mar 21 
*SUP 2: $67.72 - Hourly support Mar 21a 
*SUP 3: $66.78 - Hourly support Mar 20 
*SUP 4: $66.29 - 55-DMA
*COMMENTARY: Gains continue following the break of the 55-DMA this week with
immediate focus on $69.44-71.28 where monthly and 2018 highs are located. Bulls
look for a close above 2018 highs to target $73.41-76.75 last seen in Nov 2014.
The $67.72-68.49 support region is key today. Bears need a close below this
region to shift focus back to the 55-DMA.

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.