MNI BRIEF: PBOC Increases Gold Reserves

MNI BRIEF: Japan Q3 GDP Revised Up On Net Exports, Capex

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

MNI China Daily Summary: Friday, December 6

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

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

(N4) Maintains A Firmer Tone

WTI TECHS
  • RES 4: $90.00 - Psychological round number
  • RES 3: $86.16 - High Apr 12 and the bull trigger
  • RES 2:$82.93 - 76.4% retracement of the Apr 12 - Jun 4 bear leg
  • RES 1: $80.93 - 61.8% retracement of the Apr 12 - Jun 4 bear leg
  • PRICE: $80.20 @ 07:02 BST Jun 18
  • SUP 1: $77.83 20-day EMA
  • SUP 2: $75.23/72.48 - Low Jun 10 / 4
  • SUP 3: $71.33 - Low Feb 5
  • SUP 4: $69.25 - Low Dec 13 ‘23 and a key support

WTI futures traded higher yesterday, extending the current bull phase. The climb has resulted in a print above at $80.62, the May 29 high and a key resistance. A clear break of this hurdle would cancel a recent bearish theme and pave the way for $82.93, a Fibonacci retracement point. Initial firm support to watch is $77.83, the 20-day EMA. A break would be seen as an early potential reversal signal.

Homepagemarkets-real-timeCommoditiesEnergy BulletsBulletEnergy Technical Analysis

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.