JAPAN DATA

Japan Dec CPI -1.0% Y/Y; 9th Monthly Fall

JGB TECHS

(H1) Stabilises

AUSSIE 10-YEAR TECHS

(H1) New Multi-Month Lows

AUSSIE 3-YEAR TECHS

(H1) Recovering From the Lows

USDCAD TECHS

New Cycle Lows

OIL TECHS
  • RES 4: $436.17 - 200-dma
  • RES 3: $426.50 - High Apr 2
  • RES 2: $400.00 - Psychological round number
  • RES 1: $391.75 - High Aug 5
  • PRICE: $376.75 @ 08:23 BST Aug 7
  • SUP 1: $359.55 - 50-dma
  • SUP 2: $356.92 - 3.0% Lower Bollinger Band
  • SUP 3: $351.50 - Low Jul 30 and a key reversal trigger
  • SUP 4: $345.25 - Low Jun 29

Gasoil futures failed to extend a streak of higher highs to 5 sessions Thursday as markets found some stability. A move above the Wednesday high would cement the outlook which has been shaken slightly following the late pullback Wednesday. On the upside, key resistance shifts higher to 400.00 and 426.50 after $389.50 was topped. Although futures bounced off the Thursday low, this level still marks a key reversal trigger (351.50 for the U20 contract) and highlights a bearish threat.

MNI London Bureau | +44 0203-865-3808 | bruce.jeffery@marketnews.com