Free Trial

(K2) Watching The 20-Day EMA

  • RES 4: $144.62 - 4.00 proj of the Aug - Oct - Dec ‘21 price swing
  • RES 3: $140.00 - Psychological round number
  • RES 2: $139.13 - High Mar 7
  • RES 1: $117.73 50.0% retracement of Wednesday’s range
  • PRICE: $113.58 @ 05:43 GMT Mar 10
  • SUP 1: $104.23 - 20-day EMA
  • SUP 2: $98.30 - Low Mar 1
  • SUP 3: $93.45 - 50-day EMA
  • SUP 4: $92.75 - Low Feb 25

Brent futures have traded in an extremely wide range this week, touching a high of $139.19 Monday and a low Wednesday of $105.60. From a trend perspective, the direction remains up. This week’s pullback is allowing an overbought condition to unwind. Key support is seen firstly at $104.23, the 20-day EMA and below that at $93.45, the 50-day EMA. A convincing break of the 50-day EMA is required to threaten the uptrend.

To read the full story



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.