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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.
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MNI EUROPEAN OPEN: CAD, MXN Weaken On Tariff Threat, JPY Firms
ICE BRENT(X19): $62.40 pivotal today .....>
OIL TECHS: ICE BRENT(X19): $62.40 pivotal today
*RES 4: $64.94 - High Jul 31
*RES 3: $64.05 - High Aug 1
*RES 2: $62.68 - Potential bull channel top drawn off the Aug 7 low
*RES 1: $62.40 - High Sep 5 and pivotal resistance
*PRICE: $61.00 @ 06:21 BST Sep 6
*SUP 1: $60.25 - Low Sep 5
*SUP 2: $58.13 - Low Sep 4
*SUP 3: $57.23 - Low Sep 3 and key S/T support
*SUP 4: $55.59 - Low Aug 7 and key bear trigger
Brent gains yesterday did result in a breach of trendline resistance at $61.30
drawn off the Jul 11 high. This is a bullish development however, a bearish
price candle pattern did develop yesterday too in the shape of a shooting star.
This highlights the importance of yesterday's $62.40 high as a key resistance.
A break would see bulls maintain the upper hand. A failure however and a
subsequent move lower would refocus attention on support at $57.23.
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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.