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AUSSIE 10-YEAR TECHS

(U2) More Stable But Still Fragile

USDCAD TECHS

Trend Structure Remains Bullish

US TSYS

Cautious Risk Appetite Gains Momentum

AUDUSD TECHS

Key Support Still Exposed

US STOCKS

Late Equity Roundup: 2W Highs

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NYMEX HO (X20): Bullish Theme

OIL TECHS
  • RES 4: $1.2651 - High Sep 2
  • RES 3: $1.2341 - 61.8% retracement of the Aug 5 - Oct 2 decline
  • RES 2: $1.2155 - High Sep 3
  • RES 1: $1.2059 - High Oct 9
  • PRICE: $1.1817 @ 07:45 BST Oct 12
  • SUP 1: $1.1317 Low Oct 6
  • SUP 2: $1.0688 - Low Oct 2 and the bear trigger
  • SUP 3: $1.0470 - Low May 15
  • SUP 4: $1.0319 - 76.4% retracement of the Mar - Aug rally

HO futures rallied sharply higher on Oct 5 signalling a reversal of the downtrend that has dominated since Aug 5. The reversal pattern that defines price action on Oct 5 is a bullish engulfing candle. This confirmed a base at $1.0688, Oct 2 low. The focus is on a recovery towards $1.2341 further out, a Fibonacci retracement. Initial support is at $1.1317, Oct 6 low. The major support lies at $1.0688.

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

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