CANADA TO PUBLISH FISCAL UPDATE ON DEC. 16

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

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

(J4) Bearish Theme

BRENT TECHS
  • RES 4: $87.12 - High Oct 27
  • RES 3: $86.03 - 76.4% retracement of the Sep 15 - Dec 13 bear cycle
  • RES 2: $84.17 - High Jan 29 and key short-term resistance
  • RES 1: $81.55 - High Feb 1
  • PRICE: $78.67 @ 06:52 GMT Feb 7
  • SUP 1: $76.13 - Low Jan 17
  • SUP 2: $74.82 - Low Jan 03
  • SUP 3: $72.96 - Low Dec 13 and the bear trigger
  • SUP 4: $70.99 - Low Jun 23 ‘23

Brent futures remain in a bear-mode condition following the reversal last week. The move lower has resulted in a break below the 50-day EMA. A continuation lower would signal scope for weakness towards $76.13, the Jan 17 low, ahead of $74.82, the Jan 3 low. For bulls, a break of $84.17, the Jan 29 high, is required to reinstate a bullish theme. First resistance is $81.55, the Feb 1 high.

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.