FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

(J2) Clears Recent Highs

BRENT TECHS
  • RES 4: $96.094 - 2.50 proj of the Dec 2 - 9 - 20 price swing
  • RES 3: $95.00 Round number resistance
  • RES 2: $93.24 - 2.382 proj of the Dec 2 - 9 - 20 price swing
  • RES 1: $91.64 - Intraday high
  • PRICE: $91.40 @ 06:57 GMT Feb 4
  • SUP 1: $87.72 - Low Feb 1
  • SUP 2: $86.39/84.22 - 20-day EMA / Low Jan 24 and key support
  • SUP 3: $82.26 - 50-day EMA
  • SUP 4: $79.95 - Low Jan 10

Brent futures delivered a fresh trend high print once again yesterday. The condition remains bullish. The contract resumed its uptrend last week following the break of $88.69, Jan 20 high. This means that a bullish price sequence of higher highs and higher lows remains intact. MA conditions are in a bull mode too. The $90.00 handle has been cleared and the focus is on $93.24, a Fibonacci projection. Initial support is at $87.72, the Feb 1 low.

Energy BulletsCommodities
Energy BulletsCommodities

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.