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RUSSIA

USD/RUB Slips, Approaches April Lows

US 10YR FUTURE TECHS

‌‌(M1)‌‌ Resistance Remains Intact

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  • RES 4: $73.50 - 1.236 proj of the Apr - Aug - Nov 2020 swing (cont)
  • RES 3: $71.95 - High Sep 16, 2019
  • RES 2: $71.75 - High Jan 8, 2020 (cont)r
  • RES 1: $71.38 - High Mar 5
  • PRICE: $70.61 @ 06:44 Mar 8
  • SUP 1: $69.94 - Intraday low
  • SUP 2: $66.82 - High Feb 28 and a recent breakout level
  • SUP 3: $63.29 - 20-day EMA
  • SUP 4: $62.38 - Low Mar 2 and 3

Brent crude futures remain in an uptrend and last week's gains confirm a resumption of the underlying uptrend. Recently we had been focusing on the potential for a corrective pullback. This has for now been placed on hold. The move to fresh 2021 highs has today resulted in the contract trading through $70.00, a key psychological level. This opens $71.75, Jan 8, 2020 high (cont). Key support has been defined at $62.38, Mar 2 and 3 low.