Free Trial

(Q1) Bull Trend Conditions Remain Intact

BRENT TECHS
  • RES 4: $79.63 - 1.50 proj of Mar 23 - May 18 - May 21 price swing
  • RES 3: $78.03 - High Oct 29, 2018
  • RES 2: $76.97 - 1.23 proj of Mar 23 - May 18 - May 21 price swing
  • RES 1: $76.02 - High Jun 23
  • PRICE: $75.65 @ 06:39 BST Jun 25
  • SUP 1: $74.32 - Low Jun 22
  • SUP 2: $72.74/01 - 20-day EMA / Low Jun 17
  • SUP 3: $69.90 - High May 18 and the recent break out level
  • SUP 4: $67.75 - Low May 25

Brent crude futures traded higher Wednesday and again extended the bounce from $72.01, Jun 17 low. The recovery also resulted in a fresh trend high following this week's clearance of the $74.96 high on Jun 16. The move confirms a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. A break below $72.01 is needed to signal a top.

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.