FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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

(N1) Still Heading North

WTI TECHS
  • RES 4: $74.00 Round number resistance
  • RES 3: $73.20 - 3.236 proj of Mar 23 - 30 - Apr 5 price swing
  • RES 2: $72.70 - High Oct 15, 2018 (cont)
  • RES 1: $72.06 - 3.00 proj of Mar 23 - 30 - Apr 5 price swing
  • PRICE: $71.24 @ 07:03 BST Jun 14
  • SUP 1: $67.76 - 20-day EMA
  • SUP 2: $67.02 - High May 18
  • SUP 3: $63.63/61.56 - Low May 24 / Low May 21
  • SUP 4: $60.55 - Low Apr 22 and key short-term support

WTI crude futures remain bullish and the contract has traded higher once again today. The psychological $70.00 handle has recently been cleared. The break reinforces current trend conditions and opens $72.06 next, a Fibonacci projection. Key trend support has been defined at $61.56, May 21 low. A break is required to suggest a key short-term top. Initial firm support is seen at $67.76, the 20-day EMA.

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.