Free Trial
JGB TECHS

(U2) Bounce Accelerates

AUSSIE BONDS

Little Changed Overnight, Wider Inputs Eyed

AUD

A$ Outperforms

AUSSIE 10-YEAR TECHS

(U2) More Stable But Still Fragile Longer Term

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

(M1) Tests The 50-Day EMA

WTI TECHS
  • RES 4: $70.00 - Psychological round number
  • RES 3: $67.95 - High Oct 29, 2018
  • RES 2: $67.29 - High Mar 8 and the bull trigger
  • RES 1: $65.35/67.01 - High May 19 / High May 18
  • PRICE: $63.72 @ 06:37 BST May 20
  • SUP 1: $61.95 - Low May 19
  • SUP 2: $60.61 - Low Apr 22 and key short-term support
  • SUP 3: $58.77 - Low Apr 12
  • SUP 4: $57.68 - Low Apr 5

WTI crude has entered a corrective phase and faced selling pressure Wednesday. Price action traded through support at $63.09, May 13 low. This also resulted in a test of the 50-day EMA that has provided support. The EMA intersects at $62.47. Yesterday's low of $61.95 marks a key pivot support. A break would signal scope for a deeper pullback and expose $60.61, Apr 22 low. The key resistance zone is at $67.01/29.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.