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(M1) Support Seen At The 20-day EMA

BRENT TECHS
  • RES 4: $71.75 - High Jan 8 2020
  • RES 3: $70.67 - High Mar 8 and the key bull trigger
  • RES 2: $69.50 - High Mar 15
  • RES 1: $68.08 - High Apr 19
  • PRICE: $66.10 @ 06:56 BST Apr 21
  • SUP 1: $65.51 - Low Apr 20
  • SUP 2: $64.93 - 20-day EMA
  • SUP 3: $63.88 - Low Apr 14
  • SUP 4: $61.25 - Low Apr 5

Brent crude futures maintain a bullish tone following the recent break of $63.59, Mar 29 high and despite yesterday's pullback. With short-term momentum studies still pointing north, further gains are likely. Initial resistance is at $68.08, Apr 19 high and further gains would open $69.50, Mar 15 high. On the downside, firm support to watch is at $64.93, the 20-day EMA. A break would instead signal scope for a deeper pullback.

Energy BulletsCommodities
Energy BulletsCommodities

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