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SOUTH AFRICA

SAGBs Bull Flatten, 5Y CDS Holds Its Uptrend

BUNDS

Leaning bull flatter on the open

SILVER TECHS

Consolidating

GOLD TECHS

Watching Support

WTI TECHS

(U1) Holding Onto Recent Gains

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  • 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: $75.36 @ 07:05 BST Jun 24
  • SUP 1: $72.45/01 - 20-day EMA / Low Jun 17
  • SUP 2: $69.90 - High May 18 and the recent break out level
  • SUP 3: $67.75 - Low May 25
  • SUP 4: $64.50 - Low May 21 and key support

Brent crude futures traded higher yesterday and again extended the bounce from $72.01, Jun 17 low. The recovery has also resulted in a fresh trend high again 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.