MNI BRIEF: China Hog Market More Balanced In Q2 - Ministry

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Higher At 7.1046 Fri; -5.03% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1046 FRI VS 7.1020

MNI BRIEF: Beijing Opposes U.S. Measures Against Chinese Steel

MNI: GERMANY FEB PRODUCER PRICES -2.9% Y/Y

MNI: UK MAR RETAIL SALES +0% M/M, +0.8% Y/Y

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

(Q1) Needle Still Points North

WTI TECHS
  • RES 4: $77.35 - 1.618 proj of Mar 23 - May 18 - May 21 price swing
  • RES 3: $76.18 - 1.50 proj of Mar 23 - May 18 - May 21 price swing
  • RES 2: $75.01 - 1.382 proj of Mar 23 - May 18 - May 21 price swing
  • RES 1: $74.25 - High Jun 23
  • PRICE: $73.45 @ 06:52 BST Jun 25
  • SUP 1: $70.37/69.54 - 20-day EMA / Low Jun 17 and key S/T support
  • SUP 2: $66.80 - High May 18
  • SUP 3: $67.28 - 50-day EMA
  • SUP 4: $65.02 - Low May 26

WTI crude rallied Monday and resumed its uptrend, clearing former resistance at $72.74, Jun 16 high. The contract traded higher again Wednesday. The break maintains a bullish price sequence of higher highs and higher lows and signals scope for further upside with attention on $75.01, a Fibonacci projection. On the downside, key support has been defined at $69.54, Jun 17 low. A break of this level is required to signal a top.

Energy BulletsCommodities
Energy BulletsCommodities

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.