Free Trial

ICE BRENT: (N18) O/B Daily Studies A......>

OIL TECHS
OIL TECHS: ICE BRENT: (N18) O/B Daily Studies A Concern
*RES 4: $84.97 - High Nov 10 2014 (Cont) 
*RES 3: $81.61 - High Nov 21 2014 (Cont) 
*RES 2: $80.81 - Daily Bull channel top 
*RES 1: $80.50 - 2018 High May 17
*PRICE: $79.60 @ 0430GMT
*SUP 1: $79.12 - Low May 17 
*SUP 2: $77.60 - High May 11 now support 
*SUP 3: $76.45 - Hourly support May 9 
*SUP 4: $75.65 - Hourly support May 8
*COMMENTARY: Fresh 2018 & 3+yr highs continue with the daily bull channel top
currently capping. O/B daily studies and momentum divergence are now key
concerns for bulls. Initial support is noted at $79.12 with bears needing a
close below to gain breathing room. The 21-DMA is now noted at $75.65 with bears
needing a close below to confirm a break of the bull channel base and to shift
initial focus back to $72.20-73.10. Bulls currently focus on $80.81-81.61.

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.