© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI BRIEF: Trudeau Blames NIMBYs For National Housing Squeeze

MNI BRIEF: Fed Must Keep Higher Rate Through Next Year- IMF

MNI: Canada's 2022-23 Budget Deficit Is Near Forecast

MNI: TREASURY GENERAL ACCOUNT $38.8B MAY 25 VS $49.5B PREV DAY

MNI DATA FORECASTS: EZ Inflation, US Payrolls In Focus

EZ/UK Bond Supply Calendar: Italy BTP/CCTeu Auction on Tuesday

(RPT)MNI INTERVIEW: Fed Needs Better QE Guardrails-Fed Adviser

MNI: Canada Resilient To US Debt Ceiling Clash- Freeland

MNI BRIEF: BOC Defends 2% Target, Senate Asks About Raising It

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Market News Topics

(K3) Trend Direction Remains Down

BRENT TECHS
Homepagemarkets-real-timeCommoditiesEnergy BulletsBulletEnergy Technical Analysis
  • RES 4: $88.78 - High Jan 23 and a key resistance
  • RES 3: $84.00/86.75 - High Mar 9 / 7 and a key resistance
  • RES 2: $79.34 - 20-day EMA
  • RES 1: $75.92/78.84 - High Mar 17 / Low Feb 6
  • PRICE: $74.84 @ 06:58 GMT Mar 22
  • SUP 1: $70.12/70.00 - Low Mar 20 / Round number support
  • SUP 2: $69.28 - Low Dec 20 2021 (cont)
  • SUP 3: $65.72 - Low Dec 2 2021 (cont)
  • SUP 4: $64.62 - 1.382 proj of the Nov - Dec - Jan price swing

Brent futures remain vulnerable following last week’s impulsive bearish wave and the contract traded lower Monday, before finding support. Price has breached $76.04, the Dec 12 low and a key medium term chart point. The break confirms a resumption of the medium-term bear trend and paves the way for weakness towards $69.28 next, a Fibonacci projection. Initial firm resistance is $75.92, last Friday’s high. Gains are considered corrective.

156 words

To read the full story

Why Subscribe to

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.
  • RES 4: $88.78 - High Jan 23 and a key resistance
  • RES 3: $84.00/86.75 - High Mar 9 / 7 and a key resistance
  • RES 2: $79.34 - 20-day EMA
  • RES 1: $75.92/78.84 - High Mar 17 / Low Feb 6
  • PRICE: $74.84 @ 06:58 GMT Mar 22
  • SUP 1: $70.12/70.00 - Low Mar 20 / Round number support
  • SUP 2: $69.28 - Low Dec 20 2021 (cont)
  • SUP 3: $65.72 - Low Dec 2 2021 (cont)
  • SUP 4: $64.62 - 1.382 proj of the Nov - Dec - Jan price swing

Brent futures remain vulnerable following last week’s impulsive bearish wave and the contract traded lower Monday, before finding support. Price has breached $76.04, the Dec 12 low and a key medium term chart point. The break confirms a resumption of the medium-term bear trend and paves the way for weakness towards $69.28 next, a Fibonacci projection. Initial firm resistance is $75.92, last Friday’s high. Gains are considered corrective.