MNI: PBOC Net Drains CNY345.9 Bln via OMO Friday

MNI BRIEF: Japan Oct Core CPI Rises 2.3%, Services Rise

MNI BRIEF: Fed Should Explore Central Clearing At SRF-Hammack

MNI China Daily Summary: Thursday, November 21

MNI BRIEF: China To Enhance Support For Foreign Trade - MOFCOM

MNI: UK NOV GFK CONSUMER CONFIDENCE INDEX -18

MNI JAPAN OCT CORE CPI +2.3% Y/Y; SEPT +2.4%

MNI: FED BALANCE SHEET TOTAL ASSETS -$43B TO $6.924T IN WEEK

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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

(K1) Remains Below The Recent High

BRENT TECHS
  • RES 4: $71.95 - High Sep 16, 2019
  • RES 3: $71.75 - High Jan 8, 2020 (cont)
  • RES 2: $71.38 - High Mar 5
  • RES 1: $69.84 - High Mar 11
  • PRICE: $69.23@ 07:04 Mar 12
  • SUP 1: $66.50 - Low Mar 10
  • SUP 2: $65.04 - 20-day EMA
  • SUP 3: $62.38 - Low Mar 2 and 3
  • SUP 4: $61.76 - Trendline support drawn off the Nov 2, 2020 low

Brent crude futures remain in an uptrend however the pullback earlier this week suggests the contract has entered a corrective cycle. The trend condition has been overbought for some time and an extension lower would allow the overbought set-up to unwind. Attention is on the 20-day EMA at $65.04. A breach of the average would open $62.38, Mar 2 and 3 low. Key resistance is at $71.38, the Mar 5 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.