CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

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

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

(K3) Bullish Short-Term Theme

BRENT TECHS
  • RES 4: $90.00 - Round number resistance
  • RES 3: $88.78 - High Jan 23 and a key resistance
  • RES 2: $86.55 - High Feb 13
  • RES 1: $86.00 - High Mar 3
  • PRICE: $85.19 @ 06:49 GMT Mar 6
  • SUP 1: $82.36 - Low Mar 3
  • SUP 2: $80.25/78.84 - Low Feb 23 / 6
  • SUP 3: $77.76 - Low Jan 5
  • SUP 4: $76.04 - Low Dec 12 and the bear trigger

Brent futures traded higher last week and the contract is holding on to the bulk of its recent gains. Price remains above the 50-day EMA - the average intersects at 83.80. A continuation higher would open $86.55, the Feb 13 high. Key short-term support has been defined at $80.25, the Feb 23 low. A break of this level would reinstate the recent bearish theme and this would open $78.84, the Feb 6 low.

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.