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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI China Press Digest Nov 30: Bonds, Yuan, SMEs
MNI: PBOC Yuan Parity Lower At 7.1018 Thursday; +0.59% Y/Y
MNI: PBOC Injects Net CNY144 Bln Thurs; Rates Unchanged
MNI BRIEF: Bank of Korea Keeps Policy Rate At 3.50% - Press
MNI BRIEF: Jan-Oct Factory Output Posts Second Straight Rise
(N3) Bears Remain In The Driver’s Seat
- RES 4: $80.93 - High Apr 19
- RES 3: $79.00 - High Apr 24
- RES 2: $76.74 - High Apr 28
- RES 1: $74.24/73 - 50-day EMA / High May 24
- PRICE: $69.32 @ 07:07 BST May 31
- SUP 1: $69.02/66.46 - Low May 30 / 76.4% of the May 4 - 24 rally
- SUP 2: $63.90 - Low May 4 and key support
- SUP 3: $62.43 - Low Dec 2 2021 (cont)
- SUP 4: $60.00 - Psychological round number
WTI futures remain in a bear mode position. The strong sell-off yesterday resulted in print below support at $69.39, the May 15 low. A clear break of this level would strengthen bearish conditions and pave the way for weakness towards $63.90, the May 4 low. On the upside, key resistance is at the 50-day EMA. The average intersects at $74.06, where a clear break would instead be seen as a bullish development.
To read the full story
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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.