Free Trial

ICE BRENT(V18) Looking For Direction .....>

OIL TECHS
OIL TECHS: ICE BRENT(V18) Looking For Direction 
*RES 4: $75.25 - 55-DMA 
*RES 3: $74.41 - Low July 26, 27 
*RES 2: $74.10 - 21-DMA 
*RES 1: $73.75 - High August 2 
*PRICE: $73.41 @ 0535GMT 
*SUP 1: $72.48 - Hourly Low August 2 
*SUP 2: $71.84 - Low August 2 
*SUP 3: $71.30 - Low July 18 
*SUP 4: $70.90 - Bear channel bottom 
Brent continues to struggle for direction in the short-term but remains within
its medium-term bearish trend channel. In the short-term, bulls need a rally
above the August 2 high at $73.75 in order to challenge the 21-DMA and gain some
upside momentum, while bears need a break below the August 2 low of $71.84 to
mount an attack on the bear channel bottom down at $70.90.

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.