CANADA MAY RETAILS -0.8% VS FORECAST -0.6%, PRIOR +0.6%

MNI: Canada June Retails Fall And May Biggest Drop In A Year

MNI China Daily Summary: Friday, July 19

MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: BAKER HUGHES US RIG COUNT 586; OIL RIGS 477; GAS RIGS 103

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

(K3) Testing Resistance At The 20-Day EMA

BRENT TECHS
  • RES 4: $84.00 - High Mar 9
  • RES 3: $82.83 - 76.4% retracement of the Mar 7 - 20 downleg
  • RES 2: $80.89 - 50-day EMA
  • RES 1: $78.39/42 - 20-day EMA / High Mar 27
  • PRICE: $77.77 @ 05:49 GMT Mar 28
  • SUP 1: $72.68/70.12 - Low Mar 24 / Low Mar 20 and the bear trigger
  • SUP 2: $69.28 - Low Dec 20 2021 (cont)
  • SUP 3: $65.72 - Low Dec 2 2021 (cont)
  • SUP 4: $64.62 - 1.382 projection of the Nov - Dec - Jan price swing

Brent futures traded higher Monday, extending the recovery from $70.12, the Mar 20 low. Price has arrived at the 20-da EMA which intersects at $78.39. This average represents a key short-term resistance, where a break is required to strengthen current bullish conditions and signal scope for a continuation higher. A clear breach would open $80.89, the 50-day EMA. Initial firm support lies at $72.68, the Mar 24 low. A break would be bearish.

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.