Free Trial

(K2) Defying Gravity

BRENT TECHS
  • RES 4: $117.45 - 2.618 proj of the Aug - Oct - Dec ‘21 price swing
  • RES 3: $114.80 - 2.50 proj of the Aug - Oct - Dec ‘21 price swing
  • RES 2: $112.45 - 2.382 proj of the Aug - Oct - Dec ‘21 price swing
  • RES 1: $111.09 - Intraday high
  • PRICE: $109.62 @ 05:56 GMT Mar 2
  • SUP 1: $98.30 - Low Mar 1
  • SUP 2: $92.75 - Low Fev 25 and a key short-term support
  • SUP 3: $91.94 - 20-day EMA
  • SUP 4: $88.25 - Low Feb 18

Brent futures have resumed their uptrend again today as the current rally accelerates. This week’s gains have confirmed a resumption of the underlying uptrend and this has resulted in a clear break of the psychological $100.00 mark. The focus is on $112.45 next, a Fibonacci projection. On the downside, a firm support has been defined at $92.75, Friday’s low. Yesterday’s low of $98.30 marks the first support.

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.