MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

MNI BRIEF: China Visitor Mobile Payments Surge in H1

Riksbank Shouldn’t Place Too Much Weight On The Q2 GDP Indicator

MNI: SWEDEN Q2 GDP +0% Y/Y

MNI: SWEDEN JUN RETAIL SALES -0.1% Y/Y

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

(J2) Tilted Higher Again

BRENT TECHS
  • RES 4: $100.00 - Key psychological barrier
  • RES 3: $98.94 - 2.764 proj of the Dec 2 - 9 - 20 price swing
  • RES 2: $97.36 - 2.618 proj of the Dec 2 - 9 - 20 price swing
  • RES 1: $96.78 - High Feb 14
  • PRICE: $95.55 @ 17:54 GMT Feb 16
  • SUP 1: $89.93/87.72 - Low Feb 8 / Low Feb 1
  • SUP 2: $84.89 - 50-day EMA
  • SUP 3: $84.22 - Low Jan 24 and key support
  • SUP 4: $79.95 - Low Jan 10

Brent futures resumed their recent strength Wednesday, rallying well into the NY close. The recent rally confirms the underlying uptrend, with the break higher also resuming the bullish price sequence of higher highs and higher lows. Note too that corrections remain shallow and this highlights and reinforces underlying bullish sentiment. The focus is on $97.36 next, a Fibonacci projection. On the downside, key short-term support has been defined at $89.93, the Feb 8 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.